Agents warn of 2027 price drops if mortgage rates stay high
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.
