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REALTORS®’ assessment of market conditions in September and their outlook for the next six months declined in September compared to August and also for the same month last year , according to data from the September 2014 REALTORS® Confidence Index Survey: (http://www.realtor.org/reports/realtors-confidence-index).
REALTORS® continued to report the difficulty of qualifying for a loan under overly stringent credit eligibility standards. Although mortgage rates continue to be the lowest in decades and homes are still more affordable today compared to the years prior to the Great Recession, REALTORS® reported that there are fewer “affordable” homes for sale for the first-time buyer. With higher inventory and slower demand, REALTOR® respondents expected modest price increases in the coming 12 months.
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