United States Real Estate Confidence Index Hits New High in November
Real estate professionals in the United States sent Point2 Technologies Inc.’s (“Point2”) forward looking Real Estate Confidence Index (RECI) to new highs in the company’s November survey of 2000 real estate brokers and agents nationwide, Point2 Technologies this week.
A 7.87 percent jump in confidence signaled renewed optimism and more positive sentiment amongst real estate brokers and agents across the U.S., with the RECI recording a new high of 6.03 on the 1 – 10 Index scale (1 being “bad” and 10 being “good”), in a dramatic reversal that follows October 2009 results which saw the industry’s forward looking sentiment gauge dip to an all time low of 5.59 after two months of increased uncertainty about the future of the real estate market.
With a more overall positive tone underlying commentaries offered by real estate brokers and agents in the majority of U.S. markets and who participated in the Point2 survey, improved sentiment took all three RECI Index components to new highs.
The Current Sentiment, which measures real estate professionals’ opinion of present market conditions, moved up 0.27 points to 5.16, a 5.52 percent increase versus the October reading of 4.89 and a 1.98 percent improvement versus the Index variable’s most recent high of 5.06 on the scale, recorded in September 2009.
At 5.96 on the 1 – 10 scale, the forward looking Short Term (3 – 6 months) Optimism/Pessimism gauge saw the largest improvement amongst the RECI’s three variables, increasing 10.99 percent versus the prior month’s reading. The 3 – 6 month outlook barometer’s November results are also its highest since registering 5.80 on the scale, in August 2009.
Long Term (12 – 18 months) Optimism/Pessimism also reached a new high, increasing 0.47 points versus October, or 7.22 percent. The Long Term Outlook’s previous high of 6.88 was also recorded in August 2009.
The RECI () tracks the opinions of thousands of real estate brokers and agents, measuring their forward-looking sentiment of the real estate market, across the United States. www.RealEstateConfidenceIndex.com
The monthly survey tracks current market sentiment, short-term (3 – 6 months) optimism/pessimism and long-term (6 – 12 months) optimism/pessimism of real estate professionals in the United States. The median across all three time periods represents the forward-looking national Index measure for the month.
To obtain the complete RECI Report including respondent commentaries presented by State, visit www.RealEstateConfidenceIndex.com
Survey Instrument and Methodology
The Real Estate Confidence Index (RECI) tracks the real estate market opinions of thousands of licensed real estate professionals, brokers and agents, 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 across all three time periods represents the Index measure for the month.
The RECI is open to the Point2 Agent membership and to tens of thousands of additional licensed real estate professionals across the nation 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.
Between 2000 and 3300 real estate professionals participate in the RECI survey each month.
For more details and a listing of the RECI survey questions, or to request the complete survey report, please visit www.RealEstateConfidenceIndex.com
About Point2 Technologies Inc.
Point2 Technologies develops and markets web-based inventory management and online marketing software solutions for the real estate (www.Point2Agent.com) and heavy equipment industries (www.Point2Manager.com).
Point2 Technologies Inc.
Vice President of Public Relations
Toll Free: 1-888-955-7900 (U.S. and Canada)
Toll Free: 1-888-955-7900 (U.S. and Canada)
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