Confidence in market starts to tail off as year ends: Feeling about prices still strong

Continued decreases in inventory and concerns about interest rates ticking up pushed the REALTOR® Market Confidence Index (RMCI) down the last two months of 2013. At the same time,  REALTORS® continued to feel confident with prices as the REALTOR® Price Confidence Index (RCPI) was up again in December. Looking back at 2013 as a whole, it was strong year as the average RMCI and RCPI were the highest they’ve been since the data has been tracked.

Here are the December 2013 Highlights:

  • The RMCI went down compared to December 2012.
  • This is the second straight monthly year-over-year decrease
  • The PRCI has been up for the 23rd straight month for RPCI compared to the same month the year before
  • The RPCI was over the 70-point mark for the 10th straight month

Hot Topic:

The December “hot topic” question asked REALTORS® to pick the word or phrase to describe 2013. The top choice was “2013 was the year of no inventory.”

Click link to read the full release: December REALTOR® Market Confidence Index and REALTOR® Price Confidence Index

Data points:

  • REALTOR® Market Confidence Index in December was 52.63 Down 8.42% from the same time last year
  • REALTOR® Market Confidence Index in December was Down 7.34% from November 2013
  • REALTOR® Price Confidence Index in was 75.39 Up 4% from the same time last year.
  • REALTOR® Price Confidence Index in December was up 6.79% from November 2013.
  • The 2013 average RMCI was 68.78, which was up 29% over 2012 (53.48)
  • The 2013 average RPCI was 74.67, which was up 21% over 2012 (61.95)