REALTORS Remain Confident In Market Outlook

Dated: 09/28/2014

Views: 357

Daily Real Estate News | Friday, September 26, 2014
REALTORS®' confidence over the single-family housing market for the next six months held mostly flat in August, but more REALTORS® view their local markets as “strong” rather than “weak,” according to the latest REALTOR® Confidence Index, based on responses from about 3,300 members of the National Association of REALTORS®.REALTORS® in North Dakota and Texas reported the greatest confidence about their housing market, both of which are seeing vibrant economies and employment growth.
Why Some Are Optimistic:
Indeed, REALTORS® mostly expect modest home price increases in the coming 12 months, with the median expected price increases at 3.5 percent. REALTOR® respondents in Florida, Texas, and Hawaii expected prices to increase the most in that timeframe, at a range of 5 to 6 percent.Still, overall concerns remain over the market. REALTORS® expressed continued concern about how borrowers are finding it difficult to obtain a mortgage as well as a weak job market in many areas, which are still major deterrents to home buying. About 18 percent of REALTORS® surveyed said they had clients who could not obtain financing in August. Other hurdles to closing in August were: the buyer and seller could not agree on the price (11 percent); the buyer lost a bidding competition (8 percent); and appraisal issues (4 percent).Meanwhile, REALTOR® confidence in the townhouse/duplex and condominium market remains sluggish as well. REALTOR® respondents reported that the condo market is still lagging because of FHA financing and occupancy regulations.Inventory constraints on the number of homes for-sale also remained a concern, according to the survey. But survey respondents did report inventory levels easing somewhat in a handful of states (particularly Arizona, California, Delaware, Florida, Georgia, Indiana, Idaho, Maryland, Maine, Michigan, Minnesota, North Carolina, Nevada, New York, Texas, Virginia, and Wisconsin).Nevertheless, overall supply of homes remained tight for “lower” and “middle-priced homes,” mostly attributed to the fewer number of distressed properties and the strong price appreciation since 2012 that has made homes less affordable, according to the report.Download the full report at
Blog author image

Jeri Patrick

In today’s complex and difficult real estate market you need a professionals who will do whatever it takes to market and sell your home. Jeri Patrick has a team with an established history of succes....

Want to Advertise on this Site?

Latest Blog Posts

Feb 19 2018 5018 1

Top 5 Reasons to Hire a Real Estate Professional When Buying or Selling!Whether you are buying or selling a home it can be quite the adventure, which is why you need an

Read More

Feb 16 2018 5018 1

Should I Wait Until Next Year to Buy? Or Buy Now? [INFOGRAPHIC]Some Highlights: The Cost of Waiting to Buy is defined as the additional funds it would take to buy a home if prices &

Read More

Feb 15 2018 5018 1

Calm Down! The Real Estate Market is NOT Falling ApartThere has been tremendous volatility in certain markets over the last few weeks (for example, the stock and currency markets). When this

Read More

Feb 14 2018 5018 1

Which Comes First… Marriage or Mortgage?According to the National Association of REALTORS most recent Profile of Home Buyers & Sellers, married couples once again dominated the

Read More