Real estate brokers’ pessimism in housing market reaches new low

[SD Transplant]

I’m glad to see I’m not alone in my pessimism vis-a-vis the housing market:

“Real estate brokers and agents are feeling negative about the outlook for the housing market, according to an index that measures current, short-term and long-term sentiment.

The U.S. Real Estate Confidence Index dropped by 8.42% in September over August to 4.42 on a scale of 1-10 with 1 being the worst and 10 the best. When compared to September 2009, sentiment plunged by 23.5%.

The seasonally adjusted index is at its lowest level since Vancouver-based Point2 began to track brokers’ future expectations.

Point 2 began tracking U.S. agents’ future expectations for the real estate market in June 2009. The RECI’s only three-month drop to date was recorded between December 2009 and February 2010.

Sentiment over current market conditions dropped to 3.94 on the scale, down 9.43% over last month and 22% over the same period a year ago.

The short-term outlook (three to six months), hit a new low, settling at 4.2, down nearly 10% over last month and 26% compared to September 2009.

The long-term outlook (six to 12 months) dropped for the third consecutive month and recorded a new low of 5.24.

The average of all three variables makes up the overall RECI score for the month.

Point2 said 1,139 brokers and agents completed the September survey.”

http://www.housingwire.com/2010/10/20/real-estate-brokers-pessimism-in-housing-market-reaches-new-low

[(former)FormerSanDiegan]

… index … “reaches new low”

So, I thought to myself, I wonder what this index was back in 2005. I was guessing that agents were pretty optimistic then, and that this index might be a useful contrary indicator … Turns out the index has been around for 16 months. So, I guess the bar for reaching a “new low” is pretty low.

In other news, I created an index called the number of days in 2010. It just hit an all time high today.

[(former)FormerSanDiegan]

… index … “reaches new low”

So, I thought to myself, I wonder what this index was back in 2005. I was guessing that agents were pretty optimistic then, and that this index might be a useful contrary indicator … Turns out the index has been around for 16 months. So, I guess the bar for reaching a “new low” is pretty low.

In other news, I created an index called the number of days in 2010. It just hit an all time high today.

[(former)FormerSanDiegan]

… index … “reaches new low”

So, I thought to myself, I wonder what this index was back in 2005. I was guessing that agents were pretty optimistic then, and that this index might be a useful contrary indicator … Turns out the index has been around for 16 months. So, I guess the bar for reaching a “new low” is pretty low.

In other news, I created an index called the number of days in 2010. It just hit an all time high today.

[(former)FormerSanDiegan]

… index … “reaches new low”

So, I thought to myself, I wonder what this index was back in 2005. I was guessing that agents were pretty optimistic then, and that this index might be a useful contrary indicator … Turns out the index has been around for 16 months. So, I guess the bar for reaching a “new low” is pretty low.

In other news, I created an index called the number of days in 2010. It just hit an all time high today.

[(former)FormerSanDiegan]

… index … “reaches new low”

So, I thought to myself, I wonder what this index was back in 2005. I was guessing that agents were pretty optimistic then, and that this index might be a useful contrary indicator … Turns out the index has been around for 16 months. So, I guess the bar for reaching a “new low” is pretty low.

In other news, I created an index called the number of days in 2010. It just hit an all time high today.

[permabear]

LOL

[permabear]

LOL

[permabear]

LOL

[permabear]

LOL

[permabear]

LOL

[urbanrealtor]

The problem here is that Point2 is run by Canadians.

They are a dangerous lot.

They even have Scott Thompson on their money.

[urbanrealtor]

The problem here is that Point2 is run by Canadians.

They are a dangerous lot.

They even have Scott Thompson on their money.

[urbanrealtor]

The problem here is that Point2 is run by Canadians.

They are a dangerous lot.

They even have Scott Thompson on their money.

[urbanrealtor]

The problem here is that Point2 is run by Canadians.

They are a dangerous lot.

They even have Scott Thompson on their money.

[Author]

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