The most recent REALTORS® Confidence Index indicates that REALTOR® confidence in residential market conditions is up – substantially. The index is an indicator of housing market strength based on a monthly survey sent to over 50,000 real estate practitioners. Practitioners are asked about their expectations for home sales, prices and market conditions. Respondents indicate whether conditions are, or are expected to be, “strong” (100 points), “moderate” (50 points), or “weak” (0 points). The results are the average score for each question. A score of 50 is the threshold between a “strong” and a “weak” condition. This month’s reading was a significant increase, indicating a major change in confidence in recent weeks – residential markets headed in the right direction.
- Confidence in Single Family current market conditions at 37.2 vs. 27.0 a year ago.
- Confidence in Single Family market conditions outlook over next 6 months at 46.1.
- Confidence in Townhouse current market conditions at 22.5 vs. 13.3 a year ago.
- Confidence in Townhouse market conditions outlook over next 6 months at 28.7.
- Confidence in Condo current market conditions at 17.9 vs. 10.1 a year ago.
- Confidence in Condo market conditions outlook over next 6 months at 23.4.