According to the upcoming July REALTORS® Confidence Index report (RCI), buyer and seller traffic indexes continue to indicate an imbalance between demand and supply. The buyer traffic index declined slightly. However, the seller traffic index has remained relatively constant. Potential sellers appear to be holding back from listing their properties, possibly still recovering from the housing market of the Great Recession. Meanwhile, buyer traffic is likely adversely affected by the stringent lending and appraisal environment, as well as a continued slow economy and concerns over job availability and insecurity (one REALTOR® reported having 4 clients who lost their jobs!).
The full July RCI report will be available on August 23, here.