REALTORS® Confidence Index Survey: August 2014 Survey Highlights

REALTORS’® assessments of real estate market conditions in August 2014 and the outlook for the next six months were essentially unchanged from the July 2014 survey, according to data from the August 2014 REALTORS® Confidence Index Survey.

There were reports that in some areas, market activity fell in August due to the school opening season. Supply constraints were reported to be easing in more states than reported previously (in AZ, CA, DE, FL, GA, IN, ID, MD, ME, MI, MN, NC, NV, NY, TX, VA, WI), although inventory was still generally tight especially for “affordable” homes.

Under tight credit conditions, purchases by first-time buyers accounted for about the same share of the market as previously. Given the robust price recovery and fewer distressed properties for sale, the share of purchases for investment purposes decreased significantly. As always, local conditions vary from market to market.

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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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Comments
  1. These statistics are interesting Jed. I am curious how a REALTOR’s perception stacks up to actual market data. You should always have a higher percentage of agents with a positive outlook for the market than those with a negative outlook, we are sales people after all. We are based in the Indianapolis market and I have a mix of opinions from agents, some are having their best years and others are struggling. Thanks for the post and linking the source material. Please let me know if you have data comparing impressions vs market data, that would be fun to look at too.

    Chris Phillips