February's data shows a decline in all key agent mobility metrics, with the seasonally adjusted score at 87.2, reflecting fewer brokerage changes than usual. This slowdown runs counter to the typical February recruiting environment, which is historically buoyed by spring market optimism. Ongoing market uncertainties and recent regulatory adjustments are likely contributing to this caution. Interestingly, while movement metrics are down, the number of active agents appears to be stabilizing, suggesting a possible leveling off of the agent exodus seen earlier in the year.
February's decline in agent mobility is significant because it runs counter to our usual seasonal expectations. The continued slowdown in agent movement is reflective of ongoing market uncertainty.
Brokerages appear cautious, and agents are clearly more selective about their moves. However, the potential stabilization of active agent numbers is a positive indicator for the market.
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