Posted 10/26/2017

Google+
LinkedIn
Reddit

Realtors optimistic about next six months in housing markets

housing markets

Aly J. Yale

The Mortgage Reports Contributor

Positivity abounds

If realtor sentiment is any indication, the next six months should be good for American housing markets. According to the National Association of Realtors’ recent REALTORS Confidence Index (RCI) survey, the majority of Realtors expect market conditions to improve in the coming months.

Verify your new rate (Feb 21st, 2018)

Realtor confidence up

NAR’s RCI survey gathered data from more than 2,000 Realtors across the U.S. on confidence levels, market conditions and recent sales trends. Regarding the six-month outlook on single-family, detached properties, the Realtor confidence level registered at 65. According to NAR, anything above a 50 “indicates mortgage conditions are expected to improve.”

Realtors were also more confident about buyer and seller traffic. Indices on both ticked up over the year, rising two points and one point, respectively.

How to beat cash buyers in a seller's market

Stats back up their rising confidence, too. According to the survey, 73 percent of contracts settled on time last month — up from 63 percent a year prior. And days on the market? Those improved, too. The average property was listed for just 34 days in September, compared to 38 days last year.

The No. 1 factor holding the market back, according to the survey, was low inventory. Some Realtors also voiced concerns about the impact of Hurricanes Harvey and Irma on the Texas and Florida markets.

Housing markets: buyer and seller stats

NAR’s survey also revealed some interesting tidbits about who’s buying and selling today’s inventory — and how.

According to its findings, 20 percent of all sellers offered some sort of incentives to buyers. These included things like paying closing costs, completing a remodeling project, providing a warranty and including appliances.

How to get home sellers to pay your closing costs

Nearly a third of all sales in September were from first-timers, and 15 percent were vacation and investment home buyers. One-fifth of all buyers paid for their home in cash.

Get today’s mortgage rates

The market is on the up and up – and according to realtors, it’s only going to get better. Want to take advantage? Shop around for the best mortgage rate today.

Verify your new rate (Feb 21st, 2018)

Aly J. Yale

The Mortgage Reports Contributor

Aly J. Yale is a mortgage and real estate writer based in Houston. Connect with her at AlyJYale.com or on Twitter

The information contained on The Mortgage Reports website is for informational purposes only and is not an advertisement for products offered by Full Beaker. The views and opinions expressed herein are those of the author and do not reflect the policy or position of Full Beaker, its officers, parent, or affiliates.

3 Testimonials

Mike P.

The Mortgage Reports has provided me with helpful advice. I enjoy all the various types of mortgage information. Thank you!

Martha D. Visual Artist

The Mortgage Reports has given me lots of valuable information, and reliable information, too!

Dick B. Director of Special Lending

I read The Mortgage Reports because it delivers timely, up-to-the-minute mortgage news. Keep up the good work.

2018 Conforming, FHA, & VA Loan Limits

Mortgage loan limits for every U.S. county, as published by Fannie Mae & Freddie Mac, the Federal Housing Administration (FHA), and the Department of Veterans Affairs (VA)