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Every month, NAR conducts the REALTORS® Confidence Index Survey to gather real estate information for the Confidence Index. The RCI-Six-Month Outlook Index tracks/predicts the level of existing home sales three months in advance (i.e.: REALTORS® are excellent forecasters!).
For example, the uptick in Existing Home Sales in September 2013 were “predicted” by the rise in the June 2013 RCI Six Month Outlook Index. The correlation coefficient between the RCI-Six-Month Outlook Index and existing home sales is about 80 percent.
Looking forward, the 6-month outlook index for October 2014 ticked up a bit (seasonally adjusted) so an uptick in sales in the coming months is likely coming.
Notice: The information on this page may not be current. The archive is a collection of content previously published on one or more NAR web properties. Archive pages are not updated and may no longer be accurate. Users must independently verify the accuracy and currency of the information found here. The National Association of REALTORS® disclaims all liability for any loss or injury resulting from the use of the information or data found on this page.
