Real Estate Brokers Survey Shows Positive Trends in Traffic and Expectations
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MKM Partners' proprietary Real Estate Broker survey showed improving signals regarding residential real estate sales trends, traffic, and near term expectations.
According to real estate brokers, mortgage availability remains tight but has improved. On the other hand, pricing insights reflect mixed signals. Nearly half of all recent closings were below the list price, noted the report. However, more than half of all real estate brokers expects near term closing prices will be stable or above list price.
Notably, 56 percent of surveyed brokers say sales for the current quarter are up at least 5-10 percent (versus 47% in April). Additionally, nearly 66 percent say they anticipate sales over the next quarter will be up by at least 5-10 percent (up from 47% in April).
The survey results could be seen as a positive for SPDR S&P Homebuilders (NYSE: XHB), which is down 1.3 percent today.
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According to real estate brokers, mortgage availability remains tight but has improved. On the other hand, pricing insights reflect mixed signals. Nearly half of all recent closings were below the list price, noted the report. However, more than half of all real estate brokers expects near term closing prices will be stable or above list price.
Notably, 56 percent of surveyed brokers say sales for the current quarter are up at least 5-10 percent (versus 47% in April). Additionally, nearly 66 percent say they anticipate sales over the next quarter will be up by at least 5-10 percent (up from 47% in April).
The survey results could be seen as a positive for SPDR S&P Homebuilders (NYSE: XHB), which is down 1.3 percent today.
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