Real's March Agent Survey: Spring Market Outperforming Expectations Despite Macro Uncertainty
Survey Highlights Relative Resilience in Existing Home Sales Recovery
The Real Brokerage Inc. (NASDAQ:REAX, "Real")), a technology platform reshaping real estate for agents, home buyers and sellers, today released results from its March 2025 Agent Survey. Nearly half of agents said the spring selling season is shaping up to be stronger than they had anticipated at the start of the year, though most also noted shifts in buyer and seller behavior amid the evolving economic landscape.
"While tariffs and fiscal policy have dominated headlines, our agents on the ground are seeing signs that the housing recovery may be more resilient than expected," said Tamir Poleg, Chairman and CEO of Real.
"This spring, we're seeing a clear shift: buyers now have more negotiating power, and sellers are showing increased flexibility on pricing and concessions," said Sharran Srivatsaa, President of Real. "It's a reflection of how both sides are adjusting to current market conditions after a period of historically low transaction activity."
Key Survey Findings: Market Trends and Insights
- Transaction Growth Rebounds Slightly in March: Real's Transaction Growth Index, which measures year-over-year changes in home sales activity as reported by agents, rose modestly to 50.2 in March, up from 49.1 in February. A score above 50 signals expansion. U.S. transaction activity improved modestly, with the sub-index improving to 50.8 in March from 49.4 in February, while Canada's sub-index declined slightly to 45.0, down from 46.2 in February.
- Agent Optimism Holds Steady Near Recent Highs: Real's Agent Optimism Index, which measures agent sentiment on their local market outlook over the next 12 months, came in at 70.4 in March, unchanged from February, and still among the strongest readings since the survey began. Forty-six percent (46%) of agents reported feeling more optimistic about their local market compared to the previous month, with 23% feeling significantly more optimistic. Only 9% of agents felt more pessimistic, while 22% remained neutral.
- Buyer Power Overtakes Seller Power for the First Time Since Survey Inception: In March, 35% of agents described their market as a buyer's market — marking the first time since the survey launched in January 2024 that this share has exceeded those citing a seller's market (32%). Meanwhile, 33% of agents reported balanced conditions. The shift reflects growing buyer leverage as inventory levels increase and sellers adjust pricing expectations.
- Affordability Still the Biggest Barrier, But Economic Uncertainty Is Rising Sharply: Nearly half of agents (48%) cited affordability as the biggest challenge facing buyers in March, consistent with recent trends. Meanwhile, 21% of agents pointed to broader economic uncertainty as the primary obstacle for buyers — its highest level since September 2024, and more than double the level reported in January. Inventory constraints were cited by 22% of agents, while buyer competition remains limited at just 5%.
Key Survey Findings: Spring Selling Season Sentiment
- Spring Market Outperformed Expectations in March: Nearly half (45%) of agents said the spring selling season has been stronger than they anticipated at the start of the year — 27% reported it is "slightly stronger", while 18% described it as "much stronger." Another 29% said activity is in line with expectations, while 26% reported weaker-than-expected conditions.
- Economic Uncertainty Influencing Buyer and Seller Decisions: One in four agents (25%) reported recent macroeconomic developments are having a significant impact on client behavior, with clients pausing or changing their home buying or selling plans. Another 52% observed a moderate effect, with clients raising questions and concerns about the economy. Meanwhile, 23% of agents said the impact has been limited — 19% noted clients are moving forward as planned, while 4% reported no noticeable change in client behavior.
- Buyers Becoming More Price Sensitive: When asked how buyer behavior has shifted in recent weeks, agents most frequently cited an increase in buyer requests for seller concessions (37%). Another 34% observed that buyers are reducing their budgets or showing greater price sensitivity – both signs of growing caution in the current environment.
- Sellers Growing More Flexible, But Divided on Timing to List: On the listing side, 41% of agents said sellers are offering concessions or pricing homes more competitively to meet the market. However, many sellers remain divided on timing: 27% of agents noted sellers are delaying listings due to market uncertainty, while 22% are accelerating listings to stay ahead of potential market softness. Only 21% of agents observed no notable shift in seller behavior.
A summary presentation of these results can be found on Real's investor relations website at https://investors.onereal.com/.
About the Survey
The Real Brokerage March 2025 Agent Survey included responses from approximately 500 real estate agents across the United States and Canada and was conducted between March 31, 2025 and April 8, 2025. Responses to questions regarding transaction growth and agent optimism were calibrated on a 0-100 point index scale, with readings above 50 indicating an improving trend, whereas readings below 50 indicate a declining trend. Responses are meant to capture industry-level information and are not meant to serve as an indication of Real's company-specific growth trends. Additionally, given the smaller sample size, there can be greater variability in Canada index results on a month-to-month basis.
About Real
Real (NASDAQ:REAX) is a real estate experience company working to make life's most complex transaction simple. The fast-growing company combines essential real estate, mortgage and closing services with powerful technology to deliver a single seamless end-to-end consumer experience, guided by trusted agents. With a presence in all 50 states throughout the U.S. and Canada, Real supports over 27,000 agents who use its digital brokerage platform and tight-knit professional community to power their own forward-thinking businesses.
Forward-Looking Information
This press release contains forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect", "likely" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. These statements reflect management's current beliefs and are based on information currently available to management as of the date hereof. Forward-looking information in this press release includes, without limiting the foregoing, expectations regarding the residential real estate market in the U.S. and Canada.
Forward-looking information is based on assumptions that may prove to be incorrect, including but not limited to expectations regarding 2025 market conditions. Real considers these assumptions to be reasonable in the circumstances. However, forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements to differ materially from those expressed or implied in the forward-looking information. Important factors that could cause such differences include, but are not limited to, slowdowns in real estate markets and economic and industry downturns, and those risk factors discussed under the heading "Risk Factors'' in the Company's Annual Information Form dated March 6, 2025, a copy of which is available under the Company's SEDAR+ profile at www.sedarplus.ca. These factors should be carefully considered and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, Real cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and Real assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
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