U.S. R.E. Professionals’ Forward-Looking Market Sentiment Improves 5.4%
Point2 Technologies Inc. (“Point2”) has released its Real Estate Confidence Index (RECI) survey report for the month of August 2009. The RECI extended its upward move for the third consecutive month but remained marginally in positive territory, recording a 5.9 reading at the national level on the Index scale of one to ten (1 being “Bad” and 10 being ‘Good”). The August reading reflects a 5.4 percent improvement over July 2009 and a 21 percent increase over the June 2009 average.
The RECI tracks Current, Short-Term and Long-Term market sentiment of real estate professionals in the United States. The median response across all questions represents the Index measure for the month.
Short Term Optimism / Pessimism (3-6 months) averaged 5.8 in August, a 4.5 percent improvement over July and almost at par with the June reading of 5.74.
Long Term Optimism / Pessimism (6-12 months) sentiment moved up to 6.88, a 3.6 improvement over the July reading and nearly equal to the June reading of 6.8.
“We continue to track overall improving sentiment within the Point2 broker and agent community around the country,” said Saul Klein, Chief Executive Officer, Point2 Technologies. “How do sentiment and reality track? That can only be determined in retrospect.”
To obtain the RECI Summary Report including respondent commentaries, by State, visit http://RealEstateConfidenceIndex.com
3,151 real estate professionals covering every U.S. State, Puerto Rico and Guam contributed to the Real Estate Confidence Index in August. In addition to the national reading, Point2 plans to release regional indices starting with the September, 2009 Report.
Survey Instrument and Methodology
The Real Estate Confidence Index (RECI) tracks the real estate market opinions of thousands of real estate professionals across the United States, accounting for seasonality, on a scale of one to ten (1 being “bad” and 10 being “good”). The RECI also rates respondent sentiment for market conditions 3-6 months and 6-12 months into the future on a ten-point scale (1 being “pessimistic” and 10 being “optimistic’). The median response across all questions represents the Index measure for the month.
The RECI is open to the Point2 Agent membership at the beginning of each month, for up to seven days. Respondents complete a simple, four question survey through third party survey solution providers, Survey Monkey. The data is tabulated electronically, median averages surfaced for quantitative questions, and qualitative feedback is captured and presented in Point2’s monthly RECI Summary Report.
About Point2 Technologies Inc.
Point2 Technologies develops and markets web-based inventory management and online marketing software solutions for the real estate and heavy equipment industries.
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