Illustrates of the March 2017 REALTORS® Self-confidence Index Survey Report

While local conditions vary, the particular REALTORS ® Buyer Traffic Catalog and the REALTORS ® Confidence Index Current Conditions for single-family homes, townhomes, and condominiums remained above fifty in March 2017, indicating that a lot more respondents reported “ strong” compared to “ weak” conditions. Both indices were higher than their levels twelve months ago and in the previous month. [1] The REALTORS ® Seller Traffic Index decreased from its level one year back, but it increased from its level in the earlier month. It has remained below fifty since February 2008, indicating that vendor activity is still “ weak, ” based on the March 2017 REALTORS ® Confidence Index Survey Document , a monthly survey of REALTORS® about their sales activity plus local market conditions. [2]

First-time homebuyers made up 32 percent of sales. [3] Amid sustained work creation, the share of new homebuyers has been on a modest increase, up from 29 percent within 2014. With fewer new house foreclosures, distressed properties accounted for six % of sales, purchases for expenditure purposes made up 15 percent associated with sales, and cash sales made up 23 percent of sales. Among tight supply, half of properties that will sold in March 2017 were in the marketplace for 34 days or much less compared to 47 days in 03 2016.

Lack of virginia homes was the main issue reported simply by REALTORS®. Respondents reported a combined effect from the uptick in home loan rates since November 2016; several buyers are encouraged to act quickly while others are usually discouraged by diminished affordability. Using the coming of spring and summer season, more respondents expect the view to be “ strong” than “ weak” in the next six months compared to present conditions. The six-month outlook self-confidence indices for the single-family home, townhome, and condominium markets each authorized above 50, with the indices most higher compared to their levels 12 months ago.

highlights


[1] An catalog greater than 50 indicates the number of participants who reported “ strong” (index=100) outnumbered those who reported “ weak” (index=0). An index equal to fifty indicates an equal number of respondents confirming “ strong” and “ weak” market conditions. The index is not really adjusted for seasonality effects.

[2] The author thanks Danielle Hale, Managing Director, Housing Analysis; Meredith Dunn, Research Communications Supervisor; and Amanda Riggs, Research Study Analyst for their comments. Any mistakes are attributable to the author.

[3] NAR’ s 2016 Profile of House Buyer and Sellers (HBS ) reports that among major residence home buyers, 35 % were first-time home buyers, upward from 32 percent in 2015. The HBS surveys primary home buyers, while the monthly RCI Survey surveys REALTORS® and captures buys for investment purposes and vacation/second homes.

Recently Listed For Sale In Arlington

$949,999 at Liberty Center

Lorton real estate agents
Nesbitt Realty can help you buy and sell real estate in Lorton.