Economists' Outlook

Housing stats and analysis from NAR's research experts.

REALTOR® Comments on Housing Market Issues in Latest RCI Survey

Every month REALTORS® provide a variety of comments on the state of the market when responding to the RCI survey. In general, REALTORS® noted in the February report that uncertainty about economic conditions, rising prices, weather, the limited inventories of available homes, and flood insurance were negatively impacting the home sales markets:

Lack of Inventory: The lack of available homes on the market seemed to be the most pressing problem mentioned by REALTORS®. In some cases potential sellers holding off from listing were mentioned as having unrealistic expectations. The lack of new construction and the inability of potential sellers to find a more suitable home in a time of limited supply were cited as contributing to the problem.

Uncertainties: A number of respondents essentially commented “people are waiting,” in reference to the overall state of the economy, concern about home affordability and rising prices, a lack of consumer confidence, etc. Put differently, a significant number of comments basically indicated that some people are in a stall mode. REALTORS® noted continued strong demand, but potential buyers were reported as being increasingly demanding in terms of expected home condition. The importance of realistic, accurate pricing was noted.

Weather: Continued difficult weather conditions were prominently mentioned by many REALTORS®. There seemed to be general agreement that there had been a significant negative impact on sales in many parts of the country.

Flood Insurance: The availability and cost of flood insurance were cited in a number of cases as having a negative impact on home sales.

Loan Availability: REALTORS® continued to cite problems for potential buyers in getting loans. There was a continued feeling that credit is unrealistically tight.

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.

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