A February survey of actual property brokers within the U.S. and Canada reported a decline in sentiment concerning the path of the market.
The Actual Brokerage’s Transaction Progress Index, which measures year-over-year exercise in dwelling gross sales by these surveyed, fell to 49.1 from 51.3 in January; for the U.S. solely, it settled at 49.4 for February, down from 50.2 one month prior.
When the metric is beneath 50, Actual considers the housing market to be in a state of contraction.
“Larger stock ranges are giving patrons extra choices and higher negotiating energy, however affordability nonetheless stays the largest hurdle in at present’s market,” mentioned Tamir Poleg, chairman and CEO of Actual in a press launch.
“Whereas our Transaction Progress Index softened barely from final month, the general market continues to indicate indicators of stabilization.”
The Agent Optimism Index, an opinion about how the market will carry out within the subsequent 12 months, was additionally decrease. It fell to 70.4 from 74 in January.
Just below half of the respondents, 48%, have been extra optimistic about their native market than they have been in January, with 22% considerably extra optimistic. Solely 9% have been pessimistic, however 22% remained impartial.
The next is a roundup of some current information that may probably affect actual property and mortgage professionals’ opinions on the path of the market in March.
