US Real Estate Agents Struggle to Pay Rent, But Hope for Improvement in 2024
A monthly report by Alignable reveals that 45% of US real estate agents who own their firms had trouble paying rent on their offices in November, indicating further challenges for the housing market. The sluggish home sales, driven by high mortgage rates, have led to a lull in the market, causing realtors to struggle financially. The Federal Reserve's interest rate hikes have created distortions in the marketplace, according to industry experts. However, there is hope for improvement in 2024 if mortgage rates continue to decline and the Fed introduces rate cuts.