A September agent survey by Real REMAX Group finds housing affordability at its most strained since tracking began
Two-thirds of real estate agents across the United States say elevated mortgage rates are pushing buyers to the sidelines, according to Real REMAX Group’s September Agent Survey, which found market sentiment and transaction activity deteriorating from a month earlier.
The company’s Agent Optimism Index dropped to 45.8 in September from 54.3 in August, falling below the 50-point threshold that defines a net positive outlook.
Its Transaction Growth Index declined to 40.3 from 44.6, with 52% of the 177 agents surveyed reporting fewer transactions than in September 2025. Just 19% reported an increase.
The survey, conducted between October 1 and October 9, drew responses from agents affiliated with The Real Brokerage Inc. across the United States and Canada.
“Higher mortgage rates are putting renewed pressure on an already challenging housing market,” said Tamir Poleg, chairman and CEO of Real REMAX Group.
“Buyers have more negotiating leverage today, but affordability remains a significant obstacle, causing many to delay their home searches. Agents are also seeing sellers reconsider their plans or become more flexible on pricing. Looking ahead, the survey suggests that a sustained recovery in housing activity will depend heavily on meaningful relief in mortgage rates.”
Mortgage rates have eased from recent highs, and Kristin O'Neil of Open Door Lending says buyers may have more financing options available than they realize, including seller concessions and rate buydowns. https://t.co/HCOntlhwqa
— Mortgage Professional America Magazine (@MPAMagazineUS) October 29, 2026
A market shifting toward buyers — but not on their terms
More than half of agents, or 55%, up from 46% in August, characterized their local markets as favoring buyers, the highest reading since the survey began in January 2024.
But the shift reflects constrained purchasing power rather than renewed confidence. Sixty-seven percent of agents cited mortgage rates and affordability as the biggest obstacle for buyers, up from 58% the prior month and also a survey high.
Economic uncertainty followed at 22%; inventory constraints, once the central friction in the US housing market, were cited by just 6%.
The findings reinforce conditions that agents across the US reported during the spring selling season, when rates moved back above 6.5% after briefly touching 5.99%.
The 6% threshold — and what happens if rates stay elevated
Nearly 65% of agents surveyed said 30-year fixed-rate mortgages must fall below 6% to meaningfully restore buyer demand — 37% specified below 5.5%, and 28% put the trigger in the 5.5%–5.99% range.
A broader poll of property specialists conducted in June found forecasters projecting the benchmark 30-year rate stuck above 6.6% through year-end, with no clear path to relief.
If rates remain above 7% through 2027, roughly half of agents anticipate a decline in home sales compared with 2026 levels, while nearly 60% expect prices to fall, including 33% forecasting drops exceeding 5%.
That prospect has been weighing on brokers throughout 2026.
Samantha Shelton, mortgage broker and president at Align Lending in the US, previously told Mortgage Professional America: “When affordability improves, competition increases. That’s why I often tell clients it’s better to be early and refinance later than wait and enter the market with the Black Friday crowd. A buyer who purchases before the rush may get a better price and still benefit when refinance opportunities open.”
Stay updated with the freshest mortgage news. Get exclusive interviews, breaking news, and industry events in your inbox, and always be the first to know by subscribing to our FREE daily newsletter.
