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Active agents down 34% in Phoenix in October - Phoenix Business Journal

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The reduction in Phoenix-area active agents is roughly proportional to the reduction in home sales.

, mortgage loan originator for U.S. Bank in Scottsdale, said he expects to see pressure on mortgage rates into at least the first and second quarter of next year — but not with any large predicted increases.

In October, there were 2,393 active agents in Arizona. Of those, 713 were in Phoenix, 311 were in Mesa, and 308 in Scottsdale, which are the three cities AgentStory studied.Indeed, a lot of agents are getting out of the real estate business — and that is clearly shown in the numbers, saidHowever, October was a good month for his brokerage; and even close to one of his best months, Eilers said.

"But we are experiencing a significant drop in the amount of monthly business each agent is transacting," Hague said."This is a logical result of lower buyer demand and decreasing monthly sales."

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