I love ’80s music, but I don’t have much love for the housing market in the early ’80s. The trend was actually strikingly similar to today, and I have an article from The Sacramento Bee to prove it. On that note, let’s pause and soak up some perspective and wisdom from the past. I hope you dig this.
UPCOMING SPEAKING GIGS:
9/9/26 Private market update with local builder
9/15/26 Culbertson & Gray
9/22/26 Downtown Regional MLS Meeting Q&A
9/24/26 Appraiser webinar TBA
10/2/26 PCAR Rocklin
10/21/26 Coldwell Banker Sierra Oaks / EDH
11/17/26 Orangevale MLS Meeting
11/19/26 Appraiser webinar TBA
YOU’RE NOT THE ONLY PERSON TO EVER STRUGGLE
It’s comforting knowing others in the past have also endured challenging real estate markets. It’s a reminder that people can make it. Like my broker friend, Nick Brooks, says, “The good markets don’t last. And neither do the bad ones.” The truth is history tends to rhyme, so it’s important to stay focused and employ survival tactics.
SIMILAR VIBES IN THE EARLY 1980S
Mortgage rates were spiking in the early ’80s, buyers backed off, and it was a challenging time to stay afloat in the real estate business.
THE STORY OF REA HOOK, LOCAL REAL ESTATE AGENT
Today, I’d like to introduce you to a woman named Rea Hook, a local real estate agent in the ’70s and ’80s. Thank you to the Sacramento Bee for allowing me to share this article from November 1980.
THIS BUSINESS HAS CHANGED
Check out what real estate agent, Rea Hook, had to say about the housing market in 1980. Rates spiked from 8.5% in the late 1970s to 14.3% by the end of 1980, and that had a dramatic effect on the housing market. Sounds like today, right?
EVERYTHING CAME EASY A FEW YEARS AGO
Everything was coming easy in the real estate business in the earlier 1970s. It sounds funny that making $20,000 to $30,000 in a year was a flex, but that was around $135,000 to $200,000 in today’s dollars if you adjust for inflation. This reminds me of 2021. It was easy to make good money in real estate because there was so much business happening. I also appreciate what this agent (Rea Hook) said about not worrying about dollars. While it’s a simplistic view of things, I think there is real truth there. When we put our hand to the plow to work hard and keep it about people, things do tend to eventually work out.
A MARKET OF SURVIVAL TACTICS
Tough markets create tough professionals. Or maybe we could say tough markets reveal tough professionals. I love how Rea Hook says, “It forces you to put in extra hours and effort and learn survival tactics.” This is true. Many people talk about thriving in today’s market, and while that’s possible, I think the first goal is to survive.
PROFESSIONALS CAN THRIVE IN A TOUGH MARKET
Everyone talks about being professional, but a tough real estate market is the proving ground. The “old days” are over. It’s time to stay focused and move forward every single day. It was a market for professionals in 1980, and I think the same thing is true in 2026.
And closing thoughts on professionalism.
I SHARED THIS STORY AT A CONFERENCE
I gave a talk this week called, “Be Yourself” at the ROG Talks conference in Midtown, and I shared about the importance of focusing on relationships in real estate. In my closing, I mentioned this story about Rea Hook, and I think it resonated. Here’s a picture of me from Michelle Clark.
Anyway, I hope this was interesting and encouraging. I think there’s something powerful about history, and I hope you feel inspired. On a different note, part of me hopes Rea’s family will find this post to know that her words from long ago are still very much alive. I read her obituary, and she sounded like an amazing person. Much love, Ryan.
Thanks for being here.
Question: What do you think of the quotes? Do you love ’80s music too?
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Wow! Your content is always spot-on! We had a similar discussion at our sales meeting this week! Thank you for always “telling it like it is”!
Thank you so much, Cheryl. I really appreciate it. I think it’s helpful to look back and find encouragement and stamina. I love Rea’s story. I’m so glad I found it. It’s a gem, I think.
This is a really cool post – thanks Ryan! I love how this story/philosophy can apply, pretty much, to any business that serves the public.
Concentrating on serving your clients at a high level is such great advice and it’s such a win-win thing.
Thanks:)
Thanks, Gary. I appreciating you pitching in some thoughts. I totally agree also as those are wise words. We can’t control the market, but we can control our mindset and how we choose to respond. One of the things I’ve been saying lately in presentations is this. Don’t wait for a vibrant market before choosing to have a vibrant life.
Great stuff as usual. You always find something interesting to talk about and bring your steady perspective.
Thanks, Gary. Yeah, that’s the goal. I feel like there is always something to talk about. And there’s always some encouragement to absorb, I think.
Nice work Ryan. We have lost over 2000 agents at SAR over the last 3 years. History repeats itself. I’m back to basics working my sphere and taking some time to take some courses and work in my business so I’m able to be the “professional” while streamlining processes to handle more transactions when the time comes…
Thanks, Chad. I am not up on the number of agents, but the market can’t sustain pre-2022 numbers. We can’t be missing 30% of closed sales volume and retain the same numbers. That’s the sobering reality of it. I think you’re really smart to take classes and hone your systems. The market won’t always be stuck, but it’s been a very slow burn over four years now. I don’t anticipate a sharp change ahead without a bigger change to affordability. It is what it is. We can’t control this, but we can control our response.
That was a cool article that you found. History does to repeat itself in regards to real estate. I just hope we do not hit double digit mortgage rates. Rates have inched up about a 1/4% this week. I have a short sale offer in about three weeks ago that I am waiting on. This is my first short sale offer in about 12 years on a fixer upper home. https://webuyhousesinsacramento.com/
Thank you, Gordon. Yeah, we’re poised to see more softness ahead if rates keep ticking up. The x-factor hinges on what sellers do too. We’ve seen uncertainty hit the housing market these past two years, and sellers have pulled back a little. This keeps us stuck. I suspect we’ll see more short sales in light of flat prices. If prices dip more, we’ll see more. Let’s keep comparing notes.
Longitudinal perspectives are instructive. I appreciate that you are always looking back and providing long term data. That being said, things would seem to never be changing faster in the residential real estate world.
Thanks, Hans. Yeah, I think you have a point. The market itself is an incredibly slow burn right now as it is very stuck, but it seems like the system has some big changes having occurred and on the docket. I think of the war for attention on listings with Compass and others, NAR lawsuit, new appraisal forms coming, etc… Some pretty big changes in the mix.