Market Insights

News and insights on the Residential Real Estate market, valuations and mergers & acquisitions

February 20, 2024

Greetings friends!  It’s hard to believe we’re already half way through the first quarter of the new year.  While we’re still facing some headwinds in 2024, hope springs eternal for many of our clients.

2023 finished up at 4.09 million Existing Home Sales, a staggering 28-year low.  The sharp decline in home sales over the last couple years made for a very challenging environment not only for realtors, but their brokers.  Brokerage firms were forced to take aggressive cost cutting measures, with many going into balance sheet preservation mode.  Needless to say, M&A was not front of mind for most.

With 2023 in the rearview mirror and forecasters projecting a bounce back, many brokers have gone from licking their wounds to canvasing for opportunities in the M&A arena.  Sellers are hoping to leverage the 13.5% bump that NAR is predicting this year to boost their value, and appetites are returning for buyers seeking to capture market share.

At RTC we’re seeing our deal board slowly come back to life.  Some of the usual suspects on the buy side are sniffing around, which provides sellers a good exit strategy.  We’re even seeing some new faces emerge in various markets around the nation.  Steve and I are anticipating a strong resurgence of M&A in 2024.

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