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.
- In June, REALTORS® were by and large “strongly confident” about the outlook over the next six months compared to a year ago, although confidence appears to have eased somewhat compared to May.
- REALTORS® generally continued to report “strong” local market conditions in June for single-family and townhome properties.
- Sustained job creation at a pace of 220 thousand jobs per month in 2015, the reduction in the FHA’s annual mortgage insurance premium rates which took effect January 2015,4 and the acceptance of Fannie Mae and Freddie Mac of three percent downpayment loans since early this year appear to be facilitating improved market confidence.
- REALTOR® respondents expressed concern that the TILA-RESPA Integrated Disclosure (TRID) regulations, which take effect October 3, 2015, may lead to delayed closings.