Despite tightening inventory, Realtors around the US still expect improving markets

  • Market confidence is strong in most areas of the country, according to NAR's Confidence Index survey.
  • Tight supply and finance/lending issues were the leading factors for contracts terminations in July.
  • Cash sales and distressed sales accounted for 21 percent and 5 percent of total sales, respectively.

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If the National Association of Realtors Confidence Index survey is taken face value, Realtors could see the market as getting stronger -- but one may draw a more tempered conclusion after reading further into the report. According to NAR's survey, July's market conditions and outlook were higher than they were in July 2015. However, they were lower than the previous month. The survey was are based on responses of 3,454 Realtors. Of those responses, 2,190 closed a sale during the month (July) surveyed. The index is rated out of 100. Any numbers over 50 mean Realtors view the market as strong in that category. Numbers below 50 mean Realtors view that portion of the market as weak. Seller traffic was the only area Realtors see weakness. "Very low supply, declining affordability, appraisal issues and lender processing delays were reported as the key issues affecting sales," the report reads. Confidence and outlook may vary Alaska and Washington D.C. are polar o...