Wednesday
September 17, 2014

REALTOR® Confidence Edges Up, Concerns Remain

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REALTOR® Confidence Edges Up, Concerns Remain

REALTORS® are more upbeat about current market conditions in the housing market, but the recent uptick in their optimism may reflect the seasonal increase in demand with the start of the spring selling-season, according to the latest REALTORS® Confidence Index. The index is a monthly survey sent to more than 50,000 real estate practitioners to ask them about expectations for home sales, prices, and market conditions.

In the report, which was released in March, more REALTORS® said they are confident about the next six months than in the February report. However, the number is still lower compared to the same period a year ago.

The top concerns REALTORS® mentioned in the report were low inventories of available homes and difficulty in obtaining mortgage financing. “REALTORS® reported that even good credit clients were having trouble qualifying for mortgages,” according to the report. “There were also reports that the Qualifying Mortgage regulations and the increase in FHA mortgage insurance premiums have had an adverse effect on buyers.”

Appraisal valuation issues was also an issue cited as a concern by many REALTORS® surveyed, although fewer transactions are reportedly facing appraisal problems compared to previous months, notes the report.

Source: REALTORS® Confidence Index

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Brown: FHA’s Insurance Premiums Sidelining Buyers