The REALTORS® Confidence Index is a key indicator of housing market strength based on a monthly survey sent to over 50,000 real estate practitioners. Practitioners are asked about their expectations for home sales, prices and market conditions. In addition, the "Questions of the Month," feature results of a timely aspect of the housing market.
- Market conditions vary across local markets, but the REALTORS® confidence and traffic indices indicate that overall market activity picked up slightly in March 2016 compared to one year ago.
- REALTORS® reported strong demand, but severely low inventory in many states has weighed heavily on sales and has pushed prices up, making homes increasingly unaffordable, especially for first-time buyers.
- There are reports that the TILA/RESPA disclosure guidelines have led to longer rate lock and escrow periods.
- Very low supply, steep price increases, and lender processing delays were reported as the key issues affecting sales, especially to first-time homebuyers.