Realtors®' Confidence Index
The second chart gives us a sense of how the surveys participants see the markets going forward. The future expectation of about 45 for single family homes suggests a firming of the market. And the sub 50 value of the overall index tells us that a majority of participants tell us we are not yet out of the woods.
NAR's monthly survey of the market outlook measures sentiment of current and future housing activity. The index consists of questions regarding current and future expectations of market conditions asked of active market participants. The first chart gives us current sentiment and you can see how buyers show a strong preference fro single family homes over condo's and town houses.
NAR'S Conclusion: The data are a minor indicator that the declines in the housing markets are starting to ameliorate and are consistent with the general observations of Administration spokespersons and economists currently looking for the end of the recession.
*A high expectation is 100, medium 50 and low is 0. The markets concerned are Single Family Homes (SF), Town Houses (TH) and Condos (C).
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