Brian Buffini, founder and chairman of Buffini & Company, recently hosted his Bold Predictions Mid-Year Update broadcast, addressing the question on everyone’s mind: “Where is this hot real estate market going?”
“Google searches asking about a real estate market crash shot up exponentially in the past few months,” said Brian Buffini, founder and chairman of Buffini & Company. “The truth is that this is not a bubble, and although the housing market is hot, low interest rates, fixed mortgages, increased homeowner equity and a shortage of inventory are keeping it on solid ground.”
Dr. Lawrence Yun, chief economist for the National Association of REALTORS® (NAR), joined Buffini for the broadcast, echoing his conclusions. He explained that as new home construction increases, prices are expected to cool temporarily in the United States, with high buyer demand preventing any persistent decline.
“You have an army of homebuyers who want a second-chance opportunity,” explained Yun. “They are frustrated they cannot get into the market, but if prices decline, they are ready to move in.”
Also in the broadcast, Buffini revealed a major shift in the state of the real estate agent—market activity might be rising, but agent production is declining.
Data from NAR shows agent income and transactions have decreased. At the same time, new agents are dropping out of the business in their first couple of years. Buffini said that for agents to get back on track, they must invest in real estate training and coaching that helps them develop and maintain solid skills.
“In real estate, it’s the skills that pay the bills,” Buffini said. “Buffini & Company members make approximately $310,000—that’s nearly 10 times what the national average agent makes. Our members are receiving industry-leading coaching and training that helps them refine their skills and exceed their income goals in any market.”
Buffini’s next Bold Predictions broadcast drops in December with a preview of the 2022 real estate market.
Watch Brian Buffini’s Bold Predictions Mid-Year Update here.
For more information, please visit www.buffiniandcompany.com.
