Realtor Sentiment Survey
First Quarter 2017: Indiana Realtors Report that Low Inventory Continues to Hinder the Market.
For the first time in the 12 editions of this survey, the number of Realtors reporting a year-over-year decline in their pending sales outnumbered those who stated they have had an uptick. These weaker numbers do not appear to be a sign of slow buyer demand, which Realtors indicated was stronger than during the first quarter of the previous two years. Instead, sagging pending sales is more likely the result of a continued dwindling of available inventory. Fifty-nine percent of respondents stated that seller traffic in the first quarter of 2017 was weaker than average—the highest share of Realtors to make this claim in the history of this survey.
Indiana Realtors do not expect this imbalance between buyers and sellers to be resolved in the near term. Nearly two-thirds of respondents stated that the market will improve for sellers over the next three to six months. That said, Realtors remain optimistic that buyer traffic will continue to be healthy, with half of respondents expecting that sales volume to be stronger than average during the spring and summer selling seasons.
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=578
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=578
Values above 50 indicate traffic is viewed as stronger than average.
Compared to one year ago, is your number of pending sales:
N=577
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=576
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=567
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=568
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=568
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=423