Challenging Markets

Quick Takeaways

Challenging markets can be markets with low inventory, high mortgage rates, low appreciation gains, or a combination of those factors.
Challenging markets offer REALTORS® an opportunity to sell their worth by helping their clients navigate a multitude of challenges in the home buying and selling processes.
While the post-pandemic market continues to challenge home buyers and sellers, REALTORS® can shift their strategies and strengthen long-term business to position their clients for success no matter the market challenges.

Real estate markets will shift and change over time, as inventory, interest rates, prices, and seasons all go through regular changes. Whether you are working with a buyer’s market, a seller’s market, or something in between, it is important to be adaptable and flexible in order to meet the challenges of the market. REALTORS® should focus on making sure that clients know they are an invaluable resource for home buying and selling no matter the market conditions. Shifting business practices, educating clients, and understanding your value can go a long way in working with a challenging market to make sure you are still doing business and still helping your clients achieve the American dream.

Source: Why Is the U.S. Housing Market So Out of Whack? What Homebuyers Need to Know Right Now (realtor.com®, Sep. 20, 2021)

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You spring clean your house. Why not spring clean your business? RISMedia shows you how to improve your farming process and grow your business. You are not alone. Learn why so many people have joined the real estate industry during the Pandemic. As wealth increases, so does the demand for luxury real estate. Find out how you can cash in. Thinking of selling your business? Make your business more valuable before the final sale. iBuying has not cut out the need for real estate agents.

Will the seasonal housing market ever come back? Find out what Mansion Global thinks. Realtor.com® discusses the “stuck” housing market and why that is happening. Homebuyers are looking for flexible space in affordable homes. The New York Times discusses how rising mortgage rates impact home buying.

When is the best time to list your house? Realtor.com® says April 10 through April 16, 2022. Real estate photographers provide great tips to increase curb appeal. Using cash-tracking apps and thinking about ways to increase your income and cut back on your expenses can build your down payment.

See References for more information.

References

NAR Library & Archives has already done the research for you. References (formerly Field Guides) offer links to articles, eBooks, websites, statistics, and more to provide a comprehensive overview of perspectives. EBSCO articles (E) are available only to NAR members and require the member's nar.realtor login.

Adjusting Your Strategies in a Changing Market

What Comes Next for the Housing Market? (The New York Times, Mar. 21, 2024)

Economists who study the housing market said they expected cost increases to be relatively moderate over the next year. But they don’t expect prices to actually come down in most markets, especially for home purchases. Demographic trends are still fueling solid demand, and cheaper mortgages could lure buyers into a market that still has too few homes for sale, even if lower rates could help draw in more supply around the edges.

The Strategy Shift Agents Need to Win More Listings Right Now (NAR REALTOR® News, Nov. 18, 2025)

In a slow market, agents need to combine strategic visibility, niche focus and standout presentations to win more listings and strengthen their long-term business.

Surviving a Seller’s Market: The Ultimate Cheat Sheet (realtor.com, Apr. 7, 2023)

House hunting is challenging enough at any time; shopping during a seller's market is a whole additional difficulty level—and that's what would-be buyers are seeing across the country. The supply of homes is low, demand is high, and sellers are in control. If you’re not careful, you'll be left drying your eyes with the broken shards of your rejected bid. So you'd best bring your A-game, or don't bother showing up at all. Check out the seller's market survival tips below to stand out from the competition and get the edge.

Success Secrets for Tough Real Estate Markets (WorkingRE)

During the challenging years, it is important that you know your worth. People will look for leadership and a professional to consult with when times get tough. Fewer people will try to sell their homes on their own and will instead turn to a professional for direction. This is the time when Realtors need to shine by taking control of what they do best working hard and marketing their inventory. Once the community sees you as a leader, your business will take on a life of its own.

Working With Clients

A Playbook for Agents Working with First-Time Buyers (NAR REALTOR® News, Apr. 29, 2024)

Timelines, however, can sometimes be specific to the area. As a real estate professional, you’ll want to be able to tell your buyers what the average timeframe is for your community.

Questions a Realtor Should Ask a Buyer to Vet Their Clients (Fit Small Business, Apr. 3, 2024)

Identifying the buyer’s preferences and non-negotiables helps narrow the search to properties that meet their specific desires and requirements. These are often the most important questions you’ll ask a buyer because they will give you a sense of the buyer’s expectations and guide the house-hunting process.

The 2026 New-Home Market: A Rare Opportunity for Buyers? (NAR REALTOR® News, Jan. 16, 2026)

For the first time in years, the price gap between newly built homes and existing homes is narrower than ever—and in some markets, the typical resale home is actually more expensive than a new build. A mix of builder price cuts, widespread incentives and smaller home sizes has brought new-home pricing more in line with resale values, creating a potentially unusual buying window for prospective home buyers…So, what lies ahead for the new-home market and for home buyers? Robert Dietz, chief economist at the National Association of Home Builders, shares his insights.

Listing Price Reduction? How to Navigate It With Buyers, Sellers (NAR REALTOR® News, Aug. 14, 2025)

Certain markets are seeing some price declines, while other markets are seeing better than 2% appreciation. Here’s how real estate pros are helping buyers and sellers navigate the potential for lower asking prices.

Tips for Buyers and Sellers

10 First-Time Homebuyer Tips: How to Get That House (Bankrate, May 6, 2024)

For a first-timer, buying a home can feel overwhelming and endless. But breaking down the process into steps and tackling them one at a time can help you stay focused and get the job done. Doing your research in advance and working with a trusted real estate agent can help you stay on track throughout the process. Keeping your finances steady and limiting other big-ticket purchases can also help you qualify for a loan and get into your first home.

5 Things Homebuyers Can Still Control, Even in Today’s Turbulent, Unruly Market (realtor.com, May 15, 2025)

While you can’t control mortgage rates or home prices, you can control much of the buying process—and those decisions can make all the difference, according to Realtor.com® Chief Economist Danielle Hale. "I would focus on what you can control and plan for what you can't," she says. "For example, buyers can control how they set a budget. Buyers can't control what will happen with mortgage rates, but they can use a mortgage calculator to test out what higher or lower mortgage rates mean for their monthly budget and price target and plan in advance so they'll know how to adjust."

3 Tips for First-Time Homebuyers Navigating a Tough Market (Business Insider, Jan. 21, 2025)

The housing landscape is undoubtedly tough to navigate today, but until affordability improves, prospective homeowners are coming up with workarounds to get a piece of the American dream, including buying fixer-uppers, ‘house hacking,’ and starting small.

Consumer Guide: Buyer’s vs. Seller’s Market (National Association of REALTORS®)

The real estate market constantly shifts, and knowing whether conditions favor buyers or seller can help you make smarter, more confident decisions. Read the consumer guide to recognize which type of market you are in and what each means for you.

eBooks & Other Resources

eBooks.realtor.org

The following eBooks and digital audiobooks are available to NAR members:

The Altman Close (Audiobook)

Positively Resilient (eBook)

Housing Downturn (eBook)

The Upside of the Downturn (eBook)

1,200 Great Sales Tips for Real Estate Pros (eBook)

100+ Common Real Estate Objections & Handling Scripts For Real Estate Agents--Exactly What to Say to Handle 100+ Common Objections (eBook)

Cash in on the Coming Real Estate Crash: How to Protect Yourself From Losses Now, and Turn a Profit After the Bubble Bursts (eBook)

Real Estate Millions in Any Market (eBook)

Sell It Like Serhant (Audiobook)

Shift (eBook)

Surviving a Downturn (eBook)

Thrive on Pressure (eBook)

Timing the Real Estate Market (eBook)

Books, Videos, Research Reports & More

The resources below are available for loan through the NAR Library & Archives. Login to the library catalog using your nar.realtor username and password. Members can have items mailed to them, or items can be made available for pickup at the REALTOR® Building in Chicago.

Heart and Sold: How to Survive and Build a Recession-Proof Business (New York, NY: Atria Paperback, 2009) HD1382 .F58 2009

The Housing Downturn, Picking Up the Pieces: A Guide for Estate Agents and Developers (London: Estates Gazette, 2009) HD598 .N67 2009

Shift: How Top Real Estate Agents Tackle Tough Times (New York, NY: McGraw Hill, 2009) HD1375 .K367 2009

All Real Estate is Local: What You Need to Know to Profit in Real Estate – in a Buyer's and a Seller's Market (New York, NY: Currency Doubleday, 2007) HD255 .L464 2007

Prepare to Profit: Your Guide to Creating Wealth in any Real Estate Market (Murietta, GA: TamTam Press, 2007) HG 4521 Al2

Real Estate Millions in Any Market: the Lowdown on No-Down Investing (Hoboken, NJ: John Wiley & Sons, 2004) HD255 .E3713 2004

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