Real estate agents and brokers surveyed in September by Point2 Technologies were slightly less confident about the future than they were in August, but remained more optimistic than pessimistic overall. Their Real Estate Confidence Index(RECI), which measures the perceived confidence in the market by real estate professionals recorded its first drop in confidence since the Index went live in June – reporting 5.83 (out of 10) at the national level for the month of September, down 0.85 percent versus the August reading of 5.88.
Pressuring the RECI this month were the long term outlook variables within the Index, with both the 3-6 month and 12-18 month forward looking readings turning negative versus a month ago.
However, it wasn’t all doom and gloom. The Current Sentiment variable continued its upward momentum, for the fourth consecutive month, reflecting positive market activity and confidence amongst real estate brokers and agents, during the survey period. On a seasonally adjusted basis, this variable measured 5.06 in September, up from 4.96 in August and 4.76 in June.
source: Point2 Agent/ Point2 Technologies
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