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.
- REALTORS® were broadly more optimistic about the outlook for the next six months, with the REALTOR® Confidence Index-Six-month Outlook for single family homes up.
- Local markets broadly picked up across all property types in December 2014 compared to November 2014, although activity was more modest compared to a year ago.
- With home prices now close to their peak levels, home prices continue to increase modestly. Approximately 47 percent of REALTOR® respondents reported that the price of their “average home transaction” was higher in December compared to a year ago.
- Falling oil prices means more money into consumers’ pockets, which along with reasonable interest rates, should be positive for the housing outlook in 2015. However, REALTORS® in states with greater dependence on the oil and gas industry cautioned about the effect of the continued drop in oil prices on employment and its impact on housing.