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REALTORS® Confidence Index Declines in September

The REALTORS® Confidence Index (RCI), an indicator of expectations about the real estate market, slid down again in September. However, confidence about market conditions still remains high relative to the past five years.

What does this mean for REALTORS®? Concern about a possible over-heated housing bubble appear to be misplaced. The economic impact of government fiscal tightening, along with other factors slowing the economy suggests a continued orderly recovery and expansion of the housing markets around the country. All real estate is local—so market experiences will vary. However, overall current expectations currently reflect a modest economic expansion accompanied by relatively normal housing markets.

To view this month’s full RCI report, visit: http://www.realtor.org/reports/realtors-confidence-index

Jed Smith, Managing Director, Quantitative Research

Jed Smith is Managing Director, Quantitative Research with the National Association of Realtors®. He has worked on real estate issues for the past 20 years, providing input on a variety of housing, commercial real estate, tax, and planning issues. Recently he has been involved in several international studies.

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