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.
- First-time home buyers appeared to be slowly re-entering the market with the share of first-time homebuyers at 31 percent, up from 28 percent a year ago.
- The drop in 30-year mortgage rates to about 4 percent since the middle of the year and the improving job market may be underpinning this development.
- REALTORS® continued to report that obtaining financing remains difficult for many buyers although there are a few reports that more buyers are getting qualified for financing (AR, AZ).
- The increase in mortgage insurance premium payments for FHA-insured loans continued to be reported as an added financial strain for first-time buyers.