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REALTORS® Confidence Index in November Reflects Tempered Market Expectations

Confidence about current market conditions was essentially unchanged from October to November. The index for single family sales registered at 59 (58 in October) . The indexes for townhouses/duplexes was at 42 while the index for condominiums stayed at 38. An index of 50 marks “moderate” conditions [1]. See the November REALTORS® Confidence Index Survey at http://www.realtor.org/reports/realtors-confidence-index.

However, REALTORS® appear to be more confident about the outlook for the next 6 months, but this appears to be tied to the seasonal upswing in the spring. The 6-month outlook index for single family rose to 64 (60 in October). The index for townhouses surged to 56 (45 in October ) and the index for condominiums increased to 43 (40 in October).

[1] An index of 50 delineates “moderate” conditions and indicates a balance of respondents having “weak”(index=0) and “strong” (index=100) expectations. The index is not adjusted for seasonality effects.

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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