REALTORS® Confidence Index
The REALTORS® Confidence Index is a key 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. In addition, the "Questions of the Month," feature results of a timely aspect of the housing market.
- The January data indicates a modest pace of expansion compared to the heated recovery in 2012 through mid 2013.
- The extreme winter weather was reported to have negatively affected sales particularly in the East Coast and Midwest.
- Across many states, a major factor reported by REALTORS® that is impeding sales is the low inventory of available properties.
- Another problem is the tight access to credit; there are reports that the self-employed have a tough time obtaining mortgages.
- The uncertainty regarding flood insurance premiums has also stalled demand in coastal areas. NAR has estimated that flood insurance issues impacted approximately 40,000 sales during the October-January time frame.
- Most REALTORS® expect prices to continue rising albeit at a modest pace.
- The rental market is still strong remained strong with rents continuing to increase.