RISMEDIA, December 3, 2009—Real estate professionals in the United States sent Point2 Technologies Inc.’s forward looking Real Estate Confidence Index (RECI) to new highs in the company’s November 2009 survey of 2,000 real estate brokers and agents nationwide.
A 7.87% jump in confidence signaled renewed optimism and more positive sentiment amongst real estate brokers and agents across the U.S., with the RECI recording a new high of 6.03 on the 1-10 Index scale (1 being “bad” and 10 being “good”), in a dramatic reversal that follows October 2009 results which saw the industry’s forward looking sentiment gauge dip to an all time low of 5.59 after two months of increased uncertainty about the future of the real estate market.
With a more overall positive tone underlying commentaries offered by real estate brokers and agents in the majority of U.S. markets and who participated in the Point2 survey, improved sentiment took all three RECI Index components to new highs.
The Current Sentiment, which measures real estate professionals’ opinion of present market conditions, moved up 0.27 points to 5.16, a 5.52% increase versus the October reading of 4.89 and a 1.98% improvement versus the Index variable’s most recent high of 5.06 on the scale, recorded in September 2009.
At 5.96 on the 1-10 scale, the forward looking Short Term (3-6 months) Optimism/Pessimism gauge saw the largest improvement amongst the RECI’s three variables, increasing 10.99% versus the prior month’s reading. The 3-6 month outlook barometer’s November results are also its highest since registering 5.80 on the scale, in August 2009.
Long Term (12-18 months) Optimism/Pessimism also reached a new high, increasing 0.47 points versus October, or 7.22%. The Long Term Outlook’s previous high of 6.88 was also recorded in August 2009.
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