Over 50 signifies a ‘strong’ index, and all three parts of the housing market registered confidence indexes above it – 80 for single-family homes, 65 for townhomes and 61 for condominiums – the highest rating for condos since the NAR began the index in 2008.
For single-family homes, all states plus D.C. registered ‘moderate’ to ‘very strong’ outlooks, except for North Dakota, which the NAR rated as having a weak outlook. The six-month outlook for townhomes also registered the same positive outlook, with Colorado, Washington, D.C., Nebraska and Utah registering ‘very strong’ outlooks. However, the states of Delaware, Mississippi, New Mexico, West Virginia and Wyoming registered ‘weak’ outlooks.
No states registered ‘very strong’ outlooks for condominiums. However, most had ‘strong’ to ‘moderate’ outlooks. Nine states – Arkansas, Delaware, Louisiana, Mississippi, New Mexico, North Dakota, Oklahoma, West Virginia and Wyoming – had ‘weak’ outlooks.
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Realtors have a positive perspective about housing market conditions over the next six months, according to the National Association of Realtors’ confidence index survey.