Inaugural Burns Resale Agent Survey Shines Light on Still Hot Housing Market

Jody Kahn

Jody Kahn

August 27, 2021

We are proud to introduce the Burns Resale Housing Market Index (RHMI), a diffusion-based index driven by a proprietary survey of 6,000+ resale agents measuring the overall health and sentiment of national resale housing market fundamentals.

Here’s what we learned from 6,000+ resale agents this month:

  • Sales remain strong, with some typical seasonal slowing.
 
  • Prices continue to rise, with 77% of agents sharing that home prices rose month-over-month.
 
  • Investors are very active in the market and cash is king.
 
  • Buyer competition remains fierce, with 59% of contracts receiving multiple offers nationally.
 
  • Down payments are growing, with 42% of agents reporting higher down payments compared to pre-COVID.
 

The bottom-line: don’t let headline sensationalism fool you. While easing conditions and seasonal shifts in many metros point to less frenzied demand, the market remains strong. This shift may help many industry leaders gradually recalibrate their businesses after roughly eighteen months of panic and chaos. We will continue to monitor supply, demand, and affordability trends across the country to bring you the most timely and accurate real estate market insight.

Here are 4 opportunities for you, 3 of which are free:

  • Are you a real estate agent? Now is your chance to weigh in every month and receive a free social media infographic you can repost to accelerate your business. 
 
  • Are you a real estate agency exec? If you can encourage your team to participate, include a question from your leadership and share agent commentary anonymously with you as well.
 
  • Want more insight for free? Follow our company on twitter, where we just reposted a tweet from Rick Palacios Jr. that had some very interesting color, particularly on the difficulties buying entry-level homes.
 
  • Are you an executive who wants to see the whole report every month, along with the rest of our research, so you can make the most informed decisions possible? 
 
If any of these applied to you, please fill out this form!

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About The Author

Jody Kahn
Jody Kahn
Senior Vice President of Research Surveys
Jody delivers timely and accurate insights on housing market trends at the metro, regional, and national levels. She combines statistics and commentary from JBREC’s independent surveys with data trends, forecasts, proprietary indices, feedback from consultants, and decades of housing experience to give clients insights that support business decisions.

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If you have any questions about our services or if you would like to speak to one of our experts about we can help your business, please contact Client Relations at clientservices@jbrec.com.

Products and Services Mentioned

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Research Membership

Our research services enable our clients to gauge housing market conditions and better align their business and strategic investments in the housing industry. We provide a thoughtful and unique holistic approach of both quantitative and qualitative analysis to help clients make informed housing investment decisions.
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Burns Real Estate Agent Survey

Our real estate agent survey gauges the pulse of the US resale housing market and drives the Burns Resale Housing Market Index (RHMI).
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Real Estate Consulting

Our experienced team of consultants helps clients make sound housing investment decisions. We thrive on their success and work with many clients over multiple years and numerous projects.

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