Real REMAX Group’s Monthly Agent Survey: Higher Mortgage Rates Weigh on Housing Demand and 2027 Outlook

Agents’ conditional 2027 outlook points to weaker sales and prices if mortgage rates remain above 7% through the year.

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10/30/2026 - 08:00 AM EDT

Two-thirds of agents report buyers delaying home searches, while 65% say mortgage rates must fall below 6% to meaningfully stimulate demand

MIAMI--(BUSINESS WIRE)-- Real REMAX Group (NASDAQ: REAX), a leading technology-enabled global real estate platform, today released results from its September 2026 Agent Survey, highlighting the impact of higher mortgage rates on buyer and seller behavior and expectations for the housing market heading into 2027. The findings point to a housing market where buyers have more negotiating leverage, but higher borrowing costs continue to constrain purchasing power and transaction activity. Both the share of agents reporting buyer-favorable market conditions and those identifying affordability as the biggest challenge for buyers reached their highest levels since the survey began in January 2025.

The survey also suggests that agents see limited prospects for a meaningful recovery without lower borrowing costs. Nearly two-thirds believe mortgage rates need to fall below 6% to stimulate demand, while a majority expect home prices to decline in 2027 if mortgage rates remain above 7%.

“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.”

Key Survey Findings: Market Trends and Insights

Agent Optimism Declines: The Company’s Agent Optimism Index, which measures agents’ 12-month forward outlook, decreased to 45.8 in September from 54.3 in August, falling below the 50 threshold that signals a net positive outlook. Twenty-seven percent (27%) of agents reported feeling more optimistic than the prior month, compared to 39% who reported feeling more pessimistic.
Transaction Activity Softens Further: The Company’s Transaction Growth Index, which tracks home sales activity reported by agents within their local markets, decreased to 40.3 in September from 44.6 in August, below the 50 threshold that signals year-over-year growth. More than half (52%) of agents reported fewer transactions compared to September 2025, while 29% reported unchanged activity and just 19% reported an increase.
Note: These indices reflects agents' perceptions of local market trends and are not indicative of Real REMAX Group’s company-specific transaction volume. Index scores are weighted on a 0-100 point scale, with scores above 50 indicating a net positive outlook or year-over-year growth, as applicable.
Buyer-Favorable Conditions Reach Survey High: Fifty-five percent (55%) of agents characterized their local market as favoring buyers, up from 46% in August and the highest reading since the survey began in January 2024. Just 11% reported seller-favorable conditions, down from 19% in August, while 34% described their markets as balanced.
Affordability Concerns Continue to Rise: Sixty-seven percent (67%) of agents cited mortgage rates and affordability as the biggest challenge facing buyers, up from 58% in August and the highest reading since the survey began in January 2024. Economic uncertainty followed at 22%, while inventory constraints were cited by just 6% of agents.

Key Survey Findings: Mortgage Rates and Housing Market Expectations

Agents Expect Weaker Sales and Home Prices in 2027 if Rates Stay Elevated: If mortgage rates remain above 7% through 2027, approximately half of agents expect home sales to decline compared to 2026, while 36% expect activity to remain flat. Nearly 60% anticipate lower home prices under that scenario, including 33% who expect declines of more than 5%.
Mortgage Rates Below 6% Seen as Key to Reviving Demand: Nearly two-thirds (65%) of agents believe 30-year mortgage rates must fall below 6% to meaningfully stimulate buyer demand. Twenty-eight percent (28%) identified a rate between 5.5% and 5.99%, while 37% said rates would need to fall below 5.5%.
Higher Rates Prompt Buyers to Delay Purchases: When asked how higher mortgage rates are affecting buyer behavior, 66% of agents cited buyers pausing or delaying home searches. Other commonly reported changes included buyers becoming more selective or negotiating more aggressively (44%) and lowering their target purchase prices (26%).
Sellers Delay Listing but Show Greater Price Flexibility: When asked how higher mortgage rates are affecting seller behavior, 39% of agents cited prospective sellers delaying plans to list their homes. Agents also reported greater willingness among sellers to reduce asking prices (35%) and offer concessions (34%).
Note: Questions regarding buyer and seller behavior permitted respondents to select multiple answers.

A full summary of these results can be found on Real REMAX Group’s investor relations website at https://investors.realremaxgroup.com/.

About the Survey

The Real REMAX Group September 2026 Agent Survey included responses from 177 real estate agents affiliated with The Real Brokerage Inc. across the United States and Canada and was conducted between October 1, 2026 and October 9, 2026. 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 REMAX Group’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 REMAX Group

Real REMAX Group Inc. (NASDAQ: REAX) is a leading technology-enabled global real estate platform spanning brokerage, franchising and ancillary services. The fast-growing company combines these essential real estate services with powerful technology to deliver a seamless end-to-end consumer experience, guided by trusted real estate professionals. With 180,000+ agents, more than 100,000 of whom are based in the U.S. and Canada, and a presence in over 120 countries and territories, Real REMAX Group supports agents and broker/owners to power their own forward-thinking businesses. Additional information can be found on its website at www.realremaxgroup.com.

Forward-Looking Information

Some of the statements in this press release are "forward-looking statements" within the meaning of the federal securities laws, including Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that do not relate solely to historical or current facts, and can generally be identified by the use of words such as “anticipate”, “believe”, “estimate”, “expect”, “intend”, “plan”, “potential”, “project”, and similar expressions or future or conditional verbs such as “could”, “may”, “should”, “will” and “would”. These statements inherently involve numerous risks, uncertainties, and assumptions that could cause actual results to differ materially from those projected in these statements. Where, in any forward-looking statement, Real REMAX Group expresses an expectation or belief as to future results or events, it is based on Real REMAX Group’s current plans and expectations, expressed in good faith and believed to have a reasonable basis. However, Real REMAX Group cannot give any assurance that any such expectation or belief as to future results will be achieved or accomplished. Significant risk factors that may cause such a difference include, but are not limited to, the risk that the business combination could have an adverse effect on Real REMAX Group’s ability to retain agents, franchisees and personnel or that there could be potential adverse reactions or changes to business relationships resulting from the business combination; the ability of Real REMAX Group to achieve the synergies and other anticipated benefits expected from the business combination or such synergies and other anticipated benefits taking longer to realize than anticipated; the ability of Real REMAX Group to achieve the expected leverage or such leverage taking longer to realize than anticipated; anticipated tax treatment, unforeseen liabilities, future capital expenditures, economic performance, future prospects and business and management strategies for the management, expansion and growth of the Company’s operations; slowdowns in real estate markets, economic and industry downturns; Real REMAX Group’s inability to successfully launch new products and features; Real REMAX Group’s inability to scale while improving operating leverage, or inability to successfully execute its strategies, including its strategy related to HeyLeo; possible unfavorable results in legal proceedings; changes in laws, regulations or the regulatory environment affecting our business; disruption to our technology or cybersecurity incidents; and other risk factors detailed from time to time in our reports filed with the SEC, as well as in legacy Real’s and legacy REMAX’s reports filed with the SEC, including legacy Real’s annual report on Form 40-F, reports on Form 6-K and other documents filed with the SEC, and legacy REMAX’s annual report on Form 10-K, quarterly reports on Form 10-Q, reports on Form 8-K and other documents filed with the SEC, copies of which are available at www.sec.gov, and legacy Real’s reports filed with Canadian securities regulators, including legacy Real’s audited annual financial statements and annual management’s discussion and analysis for the financial year ended December 31, 2025, Annual Information Form dated March 4, 2026 and quarterly financial statements and quarterly management’s discussion and analysis for the period ended June 30, 2026, copies of which are available under legacy Real’s SEDAR+ profile at www.sedarplus.ca.

Real REMAX Group does not assume any obligation to publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. Neither future distribution of this press release nor the continued availability of this press release in archive form on Real REMAX Group’s website should be deemed to constitute an update or re-affirmation of these statements as of any future date.