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PHOENIX — The number of real estate agents selling homes in Phoenix dropped 34% from September to October.
It was worse in Mesa, where the number of active agents dropped by 40% during that same time period, according to AgentStory, a Miami, Florida-based tech firm that publishes sales profiles for real estate agents.
The company tracks a metric known as “active agents” to see how many real estate agents are selling homes in any calendar month.
In October, Scottsdale active agents were down 34%, while Arizona active agents overall were down 33%, according to AgentStory.
“Buyers are reluctant to take a 6% loan or more,” said Jonathan Cardella, co-founder and CEO of AgentStory. “Sellers don’t want to list in this environment where they know rates are so high and demand has dried up a lot. We’re seeing a lot of price reductions nationally.”
Read more of this story from the Business Journal.
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