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May 22, 2013
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September 2004 Market Pulse

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September 2004 Market Pulse

Easing seen
September 2004

Practitioners anticipate more households will put their homes on the market but attract fewer buyers in the next six months. Confidence in market conditions remains relatively high compared with this same period in 2003, though.

  June
 		 July
 
Current conditions 82.5 79.9
Expectations for the next six months 78.6 77.7
Buyer traffic 77.7 74.6
Seller traffic 57.5 63.1

Results are based on 348 responses to 3,600 surveys sent to large and small real estate offices. The survey asks practitioners to indicate whether conditions are strong (100 points), moderate (50), or weak (0). Responses are averaged to derive results.

Source: NAR Research

Existing-Home Sales

Modest easing Sales of existing single-family homes eased 2.9 percent to a 6.72 million unit pace in July from a record 6.92 million* rate in June. “The present level of home sales activity is considerably above last year’s record,” says NAR Chief Economist David Lereah. “Prior to this year, the July sales pace would’ve been a real eye-popper.” And the stage remains set for 2004 to set a new benchmark, he adds.

Seasonally adjusted annual rate (in millions)†

June 2004 July 2004
6.92 million 6.72 million

* Revised from a figure reported in September 2004 issue.
† Actual rate of sales for the month, multiplied by 12 and adjusted for seasonal sales differences.

Source: NAR Research

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