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Based on the latest monthly Realtors® Confidence Index, which summarizes the responses of over 3,600 Realtors® to a survey of residential real estate market conditions, there has been modest weakening of buyer and seller traffic in recent months. Compared to a year ago buyer traffic is somewhat higher, but the overall market trend in recent months has been downwards. Measured on an overall national basis, the real estate markets tend to reflect the overall employment and economic conditions. At this time many people appear to be basing home purchase decisions on job market trends and expectations. Currently the employment situation does not appear to be worsening - but it is also not showing significant evidence of improvement. People are being cautious.
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