Realtors' confidence levels shoot up, survey reports

Phoenix-area real estate agents are regaining confidence in the local housing market, according to the results of a survey released Thursday.

The Arizona Regional Multiple Listing Service, which maintains a database of homes listed for sale, conducts a monthly survey of active real-estate agents to gauge their confidence in the housing market and uses the responses to calculate what it calls the Subscriber Confidence Index.

In July the index shot upward nearly 7 points to a total score of 68 points. It was a reversal from the previous month, in which the index had fallen by more than 12 points.

Listing service CEO Bob Bemis said a huge boost in home sales, a slight increase in home prices and a steep decline in foreclosures all were likely contributors to the turnaround in Realtor confidence.

Bemis said the median price of homes listed through the service increased from $108,300 in May to $110,500 in June.

by J. Craig Anderson The Arizona Republic Jul. 21, 2011 03:22 PM




Realtors' confidence levels shoot up, survey reports