Competition in real estate industry

1. What is competition in real estate?
2. How competitive is the real estate industry?
3. Is there a lot of competition in real estate?

What is competition in real estate?

Competition provides American consumers lower prices, better quality services, and greater choice. In the residential real estate industry, competition is vitally important because buying or selling a home is one of the most important financial transactions a consumer will ever undertake.

How competitive is the real estate industry?

The housing market is as competitive as ever. And homebuyers are feeling the pressure. Home inventory is shrinking, and homes are selling faster. According to Realtor.com's latest real estate data, inventory is down 26.8%, and homes sold 11 days faster in 2021 compared to 2020.

Is there a lot of competition in real estate?

However, with over 2 million licensed realtors in the United States, realtor competition is quite intense.