A key indicator of housing market strength, the REALTORS® Confidence Index, is 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. In June, REALTORS® were by and large “strongly confident” about the outlook over the next six months compared to a year ago.
- Strong local market conditions in June for single-family and condo properties.
- Sustained job creation at a pace of 220 thousand jobs per month in 2015
- Reduction in the FHA’s annual mortgage insurance premium rates (which took effect January 2015)
- TILA-RESPA Integrated Disclosure (TRID) regulations (effective October 3, 2015) may lead to delayed closings
- Declining demand from international buyers due to a stronger U.S. dollar
- Tight inventory and limited affordability
- Potential for rising interest rates
- Difficulty obtaining financing due to higher credit and down payment standards
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Source: "June 2015 REALTORS® Confidence Index," National Association of REALTORS® (June 2015)