Realtor Sentiment Survey
Third Quarter 2015: Indiana Realtors Expect Healthy Demand to Extend into the Fall
With a 16.5 percent year-over-year increase in home sales in June, the Indiana housing market was hot during the early summer selling season, and many of the state’s Realtors expect this strong demand to continue over the next few months. In fact, 43 percent of respondents to the latest sentiment survey believe that home sales will be stronger than average over the next three to six months, while another 46 percent stated that sales should be about average for the time of year.
Other highlights from the sentiment survey conducted by the Indiana Association of REALTORS® and the Indiana Business Research Center include:
- Referring to the first half of July, 54 percent of respondents indicated that they had more pending sales than they did at the same time last year. Over the six versions of this survey completed so far, this is the first time that more than half of Realtors reported stronger pending sales numbers.
- Indiana Realtors expect that the market will continue to favor sellers over the next three to six months. In all, 51 percent of respondents said the market will continue to improve for sellers, while another 31 percent believed the market will be neutral.
- Realtors overwhelmingly believe that mortgage rates and the economy/consumer confidence will be the most important factors influencing the market over the next few months. Compared to last quarter, access to credit and low seller inventory swapped spots as the share of Realtors who believed that access was a key factor declined and inventory increased slightly.
Note: All survey respondents are members of the Indiana Association of REALTORS®.
Survey Results
How would you characterize the level of buyer traffic for single-family homes over the past 30 days?
N=446
Values above 50 indicate traffic is viewed as stronger than average.
How would you characterize the level of seller traffic for listing single-family homes over the past 30 days?
N=444
Values above 50 indicate traffic is viewed as stronger than average.
Compared to one year ago, is your number of pending sales:
N=440
Values above 50 indicate pending sales are higher.
Over the past 30 days, is the time for a home staying on the market until it is sold:
N=445
Values above 50 indicate length of time is increasing.
Over the next 3 to 6 months, do you think that single-family home prices will:
N=442
Values above 50 indicate prices are expected to increase.
Over the next 3 to 6 months, do you think that single-family home sales volume will be:
N=442
Values above 50 indicate volume is expected to be strong for the time of year. (Note: Question wording changed in 2014 Q4.)
Over the next 3 to 6 months, do you see the market:
N=442
Values above 50 indicate the market is expected to improve for buyers.
What do you think are the most important factors driving the residential real estate market currently and/or in the future?
N=417