Share
Confidence about current market conditions was essentially unchanged from October to November. The index for single family sales registered at 59 (58 in October) . The indexes for townhouses/duplexes was at 42 while the index for condominiums stayed at 38. An index of 50 marks “moderate” conditions [1]. See the November REALTORS® Confidence Index Survey at http://www.realtor.org/reports/realtors-confidence-index.
However, REALTORS® appear to be more confident about the outlook for the next 6 months, but this appears to be tied to the seasonal upswing in the spring. The 6-month outlook index for single family rose to 64 (60 in October). The index for townhouses surged to 56 (45 in October ) and the index for condominiums increased to 43 (40 in October).
[1] An index of 50 delineates “moderate” conditions and indicates a balance of respondents having “weak”(index=0) and “strong” (index=100) expectations. The index is not adjusted for seasonality effects.
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