The majority — 66 percent — of residential U.S. real estate firms are optimistic about the industry and expect to see improved profitability in the next year, according to the 2014 National Association of REALTORS® Profile of Real Estate Firms. Confidence in the commercial real estate sector is also improving with more firms expecting gains. Read more from NAR.
Among the findings from NAR’s survey:
- 45 percent of firms are recruiting sales agents
- 87 percent of those recruiting cite increased business growth as their primary reason
- 48 percent expect increased industry competition to come from non-traditional market participants
- 59 percent said the most common concern for the market is the ability of Millennials to buy a home given the job market and their debt loads.
(Source: National Association of REALTORS®)