Three in four US agents say homes are taking longer to sell as mortgage rates suppress purchasing power
Affordability concerns among American homebuyers reached their highest point in 12 months in August, with elevated mortgage rates continuing to suppress purchasing power and slow transaction activity across the country, according to a new survey from Real REMAX Group.
The company's August 2026 Agent Survey — conducted between September 1 and September 11, and drawing responses from 455 real estate agents affiliated with Real Brokerage Inc. across the United States and Canada — found a market where inventory is expanding and conditions nominally favor buyers, yet where borrowing costs remain the primary drag on deal volume.
Real REMAX Group's Agent Optimism Index, which captures agents' 12-month forward outlook on a 0-to-100 scale, fell to 54.3 in August from 58.9 in July.
While the index held above the 50 threshold that signals a net positive outlook, the slide reflects mounting concern about near-term conditions. Thirty-nine percent of agents described themselves as more optimistic than the prior month, versus 25% who reported feeling more pessimistic.
The company's Transaction Growth Index — which tracks year-over-year deal activity — was more direct. It dropped to 44.6 from 52.5 in July, falling below 50 and signaling contraction.
Forty-one percent of agents reported fewer transactions in August compared with the same month a year earlier, while just 25% reported an increase.
"Affordability continues to be the biggest challenge in the housing market," said Tamir Poleg, Chairman and CEO of Real REMAX Group.
"Higher mortgage rates are putting additional pressure on buyers, while many sellers have been slow to adjust their price expectations. With homes taking longer to sell, realistic pricing and sound advice matter more than ever."
Mortgage rates have pushed past 7% for the first time in 20 months. The 30-year fixed-rate mortgage averaged 7.03% as of September 24, up from 6.95% a week earlier, according to Freddie Mac's Primary Mortgage Market Survey.
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Sellers holding out as inventory builds
Fifty-eight percent of agents identified affordability as the single biggest obstacle facing buyers, the highest reading in the past 12 months, and far ahead of economic uncertainty at 26% and inventory constraints at 9%.
Forty-six precent of agents described their local markets as buyer-favorable, compared with just 19% who reported seller-favorable conditions and 35% who saw balance.
Longer listing timelines are the clearest symptom. Three-quarters of agents, or 75%, said homes in their local markets are taking longer to sell than a year ago, including 23% who described the slowdown as significant. Only 6% reported faster sales.
This pattern aligns with what agents surveyed in prior months had flagged about the 2026 rebound: optimism is outpacing actual deal flow.
Supply is climbing. Fifty-three precent of agents reported higher inventory than a year ago; just 20% saw lower levels. When asked what is driving the longer selling times, 48% of agents pointed squarely at seller price expectations.
Thirty-five precent cited fewer buyers able to afford homes at current borrowing costs.
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What it means for brokers
For mortgage brokers, the August data reinforces a central tension: more listings, more buyers in principle, but financing costs keeping transactions from closing.
The Mortgage Bankers Association projects rates will remain between 6% and 6.5% through 2026. MBA chief economist Mike Fratantoni, in a 2026 forecast discussion, noted that an increase in housing supply combined with cooling rates should open the door for buyers in more markets.
However, that efficiency improvements in the mortgage process remain essential to move the dial.
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