Realtors generally are optimistic about the continued growth of the industry. Sixty percent of commercial real estate firms and 62 percent of residential ones expect profitability from all real estate activities to increase in the next year, a survey by the National Association of Realtors found.
However, those surveyed expressed concerns about competition from nontraditional sources, especially virtual firms, increasing home prices and low inventories.
Survey respondents also were concerned about the real estate industry’s connection to millennials. Read on for more details of the report.