Optimism is dwindling a little, but people are still feeling good about the state of the housing market and real estate industry.
According to the midyear 2017 survey from RCLCO, 52 percent of respondents said that national real estate market conditions are better than they were a year ago, down four percentage points from the year-end 2016 survey.
The RCLCO’s Real Estate Market Index (RMI) is expected to decline over the next two years, and fewer respondents expect real estate market conditions to improve over the next 12 months (43 percent in the latest survey, compared to 52 percent in the year-end 2016 report).
Respondents are also down on President Trump. In the year-end 2016 survey, 45 percent of respondents said that they expected President Trump’s impact on real estate conditions to be “somewhat positive” over the next year. Only 30 percent echoed that sentiment in the latest survey, with 27 percent saying his impact will be “neutral” (up from 14 percent) and 22 percent feeling his impact will be “somewhat negative” (up from 12 percent).