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REALTORS® Confidence Index Survey Highlights

REALTORS®’ assessments of market conditions indicated flat market activity in October 2014 compared to September and a year ago. The REALTOR® Confidence Index-Current Conditions for  single family  homes and the Buyer Traffic Index registered near 50, a level that indicates an equal number of respondents with “strong” and “weak” outlook:    (http://www.realtor.org/reports/realtors-confidence-index).

REALTORS® reported on market conditions.  Properties stayed longer on the market, typically at two months. First-time home buyers continued to account for less than a third of the market. The percent of home purchases for investment purposes was steady compared to September but weaker than a year ago. The percent of sales of distressed properties continued to be on the downtrend.

REALTORS® were more confident about the outlook for the next six months, with the REALTOR® Confidence Index-Six-month Outlook for single family homes above 50. Respondents expect prices to increase in the coming 12 months at a modest pace, with the median expected price growth at 3 percent.

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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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