Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Look up keyword
Like this
2Activity
0 of .
Results for:
No results containing your search query
P. 1
REALTORS® Confidence Index: July 2014

REALTORS® Confidence Index: July 2014

Ratings: (0)|Views: 1,841|Likes:
Published by REALTORS®
July Highlights:

The July 2014 survey indicates that REALTORS® continued to hold a modest assessment about current conditions and the outlook for the next six months. REALTORS® reported some uptick in inventory in some areas (in CA, FL, ME, MI, IN, ID, and VA), but generally, supply remained tight relative to demand in many areas, especially for “lower” and “middle-priced” homes. Distressed sales continued to account for a smaller share of the market. REALTORS® continued to report about the restrictive effects of the current credit conditions, especially in relation to the credit score and downpayment requirements that will qualify buyers for a mortgage. The home buying process was reported to be “long and difficult” even for “quality borrowers”.

Although the home price recovery has encouraged more listings, the strong price growth amid modest wage income gains has also made homes less affordable, creating a demand for lower-priced homes that are, unfortunately, in short supply. Changes in the FHA mortgage insurance premium regulations, the cost of obtaining flood insurance, and increases in property taxes were also reported to be having a negative impact on potential sales. FHA financing regulations continued to be reported as severely impeding condominium sales.
July Highlights:

The July 2014 survey indicates that REALTORS® continued to hold a modest assessment about current conditions and the outlook for the next six months. REALTORS® reported some uptick in inventory in some areas (in CA, FL, ME, MI, IN, ID, and VA), but generally, supply remained tight relative to demand in many areas, especially for “lower” and “middle-priced” homes. Distressed sales continued to account for a smaller share of the market. REALTORS® continued to report about the restrictive effects of the current credit conditions, especially in relation to the credit score and downpayment requirements that will qualify buyers for a mortgage. The home buying process was reported to be “long and difficult” even for “quality borrowers”.

Although the home price recovery has encouraged more listings, the strong price growth amid modest wage income gains has also made homes less affordable, creating a demand for lower-priced homes that are, unfortunately, in short supply. Changes in the FHA mortgage insurance premium regulations, the cost of obtaining flood insurance, and increases in property taxes were also reported to be having a negative impact on potential sales. FHA financing regulations continued to be reported as severely impeding condominium sales.

More info:

Published by: REALTORS® on Aug 21, 2014
Copyright:Traditional Copyright: All rights reserved

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PDF, TXT or read online from Scribd
See more
See less

09/04/2014

pdf

text

original

 
REALTORS® CONFIDENCE INDEX
Report on the July 2014 Survey NATIONAL ASSOCIATION OF REALTORS® Research Department Lawrence Yun, Senior Vice President and Chief Economist
 
The
 REALTORS® Confidence Index
 (
 RCI 
) Report provides monthly information about market conditions and expectations, buyer/seller traffic, price trends, buyer profiles, and issues affecting real estate based on data collected in a monthly survey of REALTORS®. The July 2014 report is based on the responses of 3,901 REALTORS® about their transactions in July 2014.
1
 Responses were received from August 1 -11, 2014. Questions about the characteristics of
the buyer and the sale are based on the REALTOR’S® last tra
nsaction for July , which on a combined basis are viewed to be representative of the sales for the month. All real estate is local: conditions in specific markets may vary from the overall national trends presented in this report. The Report also contains commentaries by the Research Department on recent economic data releases and policies affecting housing. Jed Smith, Managing Director, Quantitative Research Gay Cororaton, Research Economist Thomas J. Doyle, Director , Marketing and Communications Meredith Dunn, Research Communications Manager
1
 The survey was sent to 50,000 REALTORS® who were selected through simple random sampling. To increase the response rate, the survey is also sent to respondents in the previous three surveys and who provided their email addresses. The number of responses to a specific question varies because the question is not applicable to the respondent or because of non-response. To encourage survey participation, eight REALTORS® are selected through simple random sampling to receive a gift card.
 
Table of Contents

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->