Realtor Sentiment Survey
Fourth Quarter 2017: Housing Market Inventory Continues to Tighten
More than half of Indiana Realtors say that their level of seller traffic was weaker than normal during the fall, according to the latest Indiana Realtors Sentiment Survey. This result marks the eighth consecutive survey—dating back to the first quarter of 2016— in which at least 50 percent of respondents indicated that market inventory was subpar.
This scant supply is likely the primary reason that 36 percent of those surveyed stated that their number pending sales was lower than it was at this time last year—the highest share of Realtors to respond this way since this survey began in 2014. This finding is consistent with the latest IAR market report, which showed that pending sales were down nearly 2 percent year-over-year in September 2017 after four straight months of increases.
Despite these tight conditions, Realtors say that demand remains relatively healthy for this time of year, with 32 percent saying that buyer traffic was stronger than normal this fall. Compared to past surveys taken at this time of year, this was the highest share of respondents who indicated strong demand.
Note: This survey is conducted by the Indiana Association of REALTORS® and the Indiana Business Research Center. All survey respondents are members of the Indiana Association of REALTORS®. View the archives page to access other releases.
Survey Results
How would you characterize the level of buyer traffic for single-family homes over the past 30 days?
N=536
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=539
Values above 50 indicate traffic is viewed as stronger than average.
Compared to one year ago, is your number of pending sales:
N=534
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=539
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=534
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=533
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=531
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=437