Short YouTube monologue (by Marty Thompson) comparing past and present real estate market conditions. Speaker recalls a prior period with extremely high inventory ("20 months"), says two-thirds of local agents exited the business then, and contrasts that bloodbath with current shortages—low inventory, fewer sales, buyer hesitation tied to mortgage rates, and skepticism that prices will drop.
Looking back at the market stats and just seeing inventory shoot straight through the roof. We had, like, at one point, we had 20 months of inventory. So radically different market than today, but it was a blood bath. Fully two thirds of the agents in my market got out of the business. And we're in a similar time now in terms of agents getting out of the business. But it's driven by different dynamics. Not going to get into too much, but there's just not enough inventory. There's just not enough sales because the shortage of inventory and rates and, you know, buyers sitting on the sidelines and wondering, hoping if, you know, rates are going to come down and if prices are ever going to come down, I don't think they will.
