The National Association of Realtors surveys its members each month with a poll that asks for their expectations and perceptions of the overall market, buyer and seller traffic, prices, and home sales. According to the most recent release, real estate professionals are reporting that buyer traffic has been moderate to strong across much of the country. In fact, aside from the Northeast, only a few states reported weak traffic and, in Oregon, responding agents said buyer traffic was “very strong.” The report credits continuing demand from prospective home buyers to “sustained job creation, the low interest rate environment, the offering of three percent down-payment conventional mortgages, and lower mortgage insurance premiums for FHA loans.” Still – though it’s encouraging that buyer demand is strong as we enter the winter months – the latest survey wasn’t entirely positive. Realtors also said there were fewer home sellers and a lack of “properties in the lower price range and for those that are move-in ready.” That’s a concern because lower than normal for-sale inventory offer buyers fewer choices and puts upward pressure on home prices. More here.
