Is the Market Losing Some Momentum?
REALTOR® confidence over current housing conditions and their six-month outlook for single-family, townhome, and condo properties all showed a slight dip last month – indicative of a slowing housing market, according to the July 2015 REALTOR® Confidence Index, a survey of nearly 3,000 practitioners about the state of housing. Nevertheless, the index remains well-above levels from last year.
The index that measures buyer traffic slid to 62 in July while seller traffic remained below 50 due to a tight supply of homes for-sale nationwide. Any confidence index below 50 indicates that more respondents view conditions as "weak" than "strong." Properties in July also were staying on the market longer at a median of
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