The real estate market appears to be in a slump, according to the latest survey conducted by the Housing and Construction Authority (HMS) among real estate agents on July 2.
According to the survey, 65 percent of respondents believe that market activity is rather low or very low — especially given the time of year. The survey was sent to 330 members of the Association of Real Estate Agents, and 99 responses were received, representing a 30 percent response rate. The vast majority of respondents — 94 percent — primarily deal with properties in the capital area and surrounding regions.
HMS analysis states that real estate agents generally agree the market is clearly a buyer’s market — a trend that has strengthened since initial measurements in May.
Source: Mbl.is
