Realtor confidence in the market continues to be high in September

Happy fall! Today we released our September REALTOR(R) Market Confidence Index (RMCI) and REALTOR(R) Price Confidence Index (RPCI) numbers and both were up compared to the same time last year. The RMCI had its highest percent year-over-year increase since we’ve been tracking this data.

Here are the highlights:

  • Both the September RMCI and the RPCI were UP compared to the same month in 2012.
  • The RMCI had its highest year-over-year percent increase since the data has been tracked
  • The RMCI and RPCI  were UP compared to August.
  • This is the 14th straight month the RMCI was up over the same time last year and the eighth straight month for RPCI.

Hot Topic:
With the number of homes for sale trending down, this month’s “Hot Topic” question asked REALTOR(R) members why homeowners who wanted to sell were still keeping their homes off the market.

Click here to read the full release: September 2012 Realtor(R) Market Confidence Index and Realtor(R) Price Confidence Index

Data points:

  • REALTOR® Market Confidence Index in September was 57.73 Up 166% from the same time last year
  • REALTOR® Market Confidence Index in September was UP 2.3% from August 2012
  • REALTOR® Price Confidence Index in September was 64.41 Up 72% from the same time last year.
  • This is the fifth straight month that the RPCI has been over the 60-point mark
  • REALTOR® Price Confidence Index in September was UP 0.34% from August 20

What’s in a name?
You might have noticed that the names of the two Indexes have changed a bit. We made the slight modifications to insure there was no confusion about what this data represented. The REALTOR Market Index is now the REALTOR Market Confidence Index (RMCI) and the REALTOR Price Index is now the REALTOR Price Confidence Index. We wanted the media and anyone else who looked at this data to understand that these two indexes were only measuring the confidence levels of the REALTOR-members surveyed.