Agent, broker confidence hits low point

Respondents cite tough job market, shadow inventory

Real estate broker and agent confidence fell to a new low in July, according to a survey by real estate marketing and technology provider Point2 Technologies.

Point2’s Real Estate Confidence Index (RECI) fell 8.85 percent last month to 5.24, from 5.76 in June. The index is based on survey responses on a 10-point scale; one equals "bad" or "pessimistic," and 10 equals "good" or "optimistic."