ShareConfidence about the residential real estate sales outlook for the next six months broadly improved in November 2014: REALTORS® Confidence Index Survey, http://www.realtor.org/reports/realtors-confidence-index. An improving jobs market, the 30-year mortgage rate at approximately 4 percent, and higher inventories of available homes for sale may have accounted for the rebound in positive market expectations for sales of single family homes.
Expectations about the market for townhomes and condominiums also improved but were still somewhat weak (index below 50). REALTORS® continued to report about the difficulty of obtaining FHA financing for condominiums, typically the entry point for homeownership.
