With low inventory and prices continuing to go up, REALTORS® feel confident about prices according to the results of the January 2014 REALTOR® Price Confidence Index. However, a lack of inventory is also pushing REALTOR® confidence in the market down according to the January REALTORS® Marketing Confidence Index. With interest rates ticking down, and home equity returning a little bit each day, everyone is looking at homeowners to make the decision to get into the market.
Here are the January 2014 Highlights:
- The RMCI went down compared to January 2013.
- This is the third straight monthly year-over-year decrease
- The PRCI has been up for 24 straight months compared to the same month the year before
- The RPCI was over the 70-point mark for the 11th straight month
The January Hot Topic question asked REALTORS® if they (or anyone in their office) has been involved in a home sale transaction in which metals (e.g. copper pipe, wiring, cast iron, siding, etc.) had been stolen from the home.
Click link to read the full release: January 2014 REALTOR® Market Confidence Index and REALTOR® Price Confidence Index
- REALTOR® Market Confidence Index in January was 59.8 Down 7.99% from the same time last year
- REALTOR® Market Confidence Index in January was Up 13.63% from December 2013
- REALTOR® Price Confidence Index in was 76.96 Up 1.56% from the same time last year.
- REALTOR® Price Confidence Index in January was up 2.08% from December 2013.