Photo credit: Special to ACRE
ACRE releases 2Q Real Estate Confidence Index
In the above chart, the overall indicators for the second quarter dating back to 2011 show an improved outlook in real estate.
The second quarter 2017 Real Estate Confidence Index has been released by the Alabama Center for Real Estate.
According to the results of the survey, the outlook for Alabama is optimistic, with an overall score of 60, up 7 points from last year. The scale ranges from 0-100, with 0 being much worse, 100 being much better and 50 indicating no change expected.
Here's some highlights from the report. Read the full report at the ACRE website by clicking here.
- The professional real estate community’s outlook for second quarter 2017 moved slightly higher than last years’ robust expectations. All of the overall residential and commercial indicators are now pointing upward at 60 for the overall level. The indicators indicate a robust outlook for second quarter sales activity. In the aggregate the indicators indicate continued expansion. The overall Total Stat which combines all measures is at 60, up 7 points from last year, and off by 1 from last quarter. The availability of credit is now rated at 54, a 3 point improvement from last year at this time at 51 and down 3 from last quarter.
- This quarter remained about even with prior quarters’ robust growth expectations. The overall total score decreased by 1 from last quarter to 60, up by 7 from last year. The overall stat measure, and the other combined scores, indicate that the residential and commercial markets should be even more robust than last year at this time. This quarter, the indicators have remained very consistant between areas, now the overall stat for each region are exactly the same at 61, indicating highly uniform, and optimistic expectations across the state.
- Commercial market participants, (the majority of the respondents are from the Birmingham market area), remain enthusiastic. The Total Stat is at 60 this quarter off 1 from last quarter and up by 7 points from last year. Sales expectations are very positive at 64 up by 4 from last quarter and up by 7 from last year. The score for inventory availability is unchanged from last quarter to 56 and up by 3 from last year.