With spring and summer rolling in, the REALTORS® Confidence Index—Six-Month Outlook for single-family homes, townhomes, and condominiums each registered above 50, indicating that more REALTOR® respondents expected market conditions to be “strong” than “weak” over the next six months compared to current conditions, based on the March2017 REALTORS® Confidence Index Survey Report.
In the single-family homes market, the outlook in the next six months compared to current conditions is “strong” to “very strong” in nearly all states and “moderate” in Delaware and the District of Columbia.
In the townhomes market, the outlook is “moderate” to “very strong”, except in Wyoming, New Mexico, and Mississippi. Respondents expect the townhomes market to be “very strong” in Washington, Oregon, Utah, and Colorado.
In the market for condominiums, the outlook is “moderate” to “very strong” in many states, except in eight states and the District of Columbia. Respondents expect markets to be “very strong” in Utah and Colorado. Nationally, the index for condominiums was at 61 in March 2017 (61 in February 2017; 55 in March 2016), the highest level since this index was generated in 2008. The approval of H.R. 3700, the “Housing Opportunity Through Modernization Act of 2016,” appears to be bolstering homebuying in the condominium market. Among other measures, the law eases access to FHA condominium financing by reducing the FHA condominium owner occupancy ratio from 50 to 35 percent, directing the FHA to streamline the condominium re-certification process, and providing more flexibility for mixed-use buildings.
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4+2 Single Story in the prestigious "Conejo Oaks" neighborhood
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