Industry experts gain confidence in housing market

A growing number of real estate experts are gaining confidence in how capable properties are able to sell in the current housing market, reports the National Association of Realtors.

A growing number of real estate experts are gaining confidence in how capable properties are able to sell in the current housing market, reports the National Association of Realtors.

According to the trade group's December Confidence Index, realtors are gaining confidence in single-family homes, townhouses and condominiums, based on housing and economic conditions.

The index showed that confidence regarding single-family homes surged by 29 percent in December form a year earlier to 31.6. On a monthly basis, the level edged higher from 30.4 in November.

However, despite the improvements, the index measures confidence on a scale of zero to 100 - zero indicating weak conditions, 50 as moderate and 100 as strong.

Meanwhile, the confidence in the townhouse market also improved on an annual basis by 47 percent to 18.5. During December 2010, the level was recorded at 12.6. In addition, condominium market confidence spiked 39 percent to 14.3 from a year earlier.   

Real estate research data also included in the report indicated an expected outlook for the housing market's future. However, although the indices improved, all three sectors remained below 50.



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