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.
- Market conditions vary across local markets and states, but REALTORS® generally reported improved housing market conditions in October 2015 compared to a year ago.
- Compared to September 2015, market activity eased, in part due to the seasonal slowdown across many local markets at this time of the year.
- Sustained job creation, the low interest rate environment, the availability of three percent downpayment conventional mortgages, and the reduction of mortgage insurance premiums for FHA-insured loans are likely sustaining the housing market recovery.
- First-time home buyers accounted for 31 percent of sales, essentially unchanged from the previous months’ figures.
- Tight inventories, decreasing affordability, continued tight mortgage availability, and slow/excessively conservative appraisals were the main issues reported by respondents.