Point2 Technologies Releases the “Real Estate Confidence Index”
Point2 Technologies Inc., the largest independent provider of website and listing syndication solutions for the real estate industry, with users in over 100 countries on its platform, debuted the Real Estate Confidence Index at the Inman News Real Estate Connect conference. The Index, which tracks the real estate market opinions of thousands of real estate professionals across the United States, fills a missing link in real estate intelligence by capturing the current, near-term and long-term sentiment of the people most attuned to market conditions.
More information and initial results can be found at http://realestateconfidenceindex.com.
The Real Estate Confidence Index is produced through a monthly survey of real estate professionals across the country who are asked to rate current conditions in their market, accounting for seasonality, on a scale of one to ten (1 being “bad” and 10 being “good”) and rate their sentiment for market conditions 3-6 months and 6-12 months into the future on a ten-point scale (1 being “pessimistic” and 10 being “optimistic’). The median response across all questions represents the Index measure for the month. 3,191 professionals contributed to the Index in June; 3,201 contributed in July.
The Real Estate Confidence Index for June was 4.7, with respondents taking a measured assessment of current conditions on a seasonal adjusted basis – a median rating of 5 on the ten-point scale. However, respondents showed marked optimism for both short (3 – 6 months) and long-term (6 –12 months) prospects.
The July index showed a 16.5 percent increase, rising to 5.5, signaling that real estate professionals are seeing positive movement in a market characterized by contraction for over two years. However, not all respondents were sanguine. 18 percent were less than optimistic about market prospects even 12 to 18 months into the future.
“The feet-on-the-ground perspective only real estate professionals possess is critically important to understanding where the market is, where it is heading and, it simply cannot be captured by traditional measures,” said Saul Klein, Point2’s CEO. “The Real Estate Confidence Index provides a window into the market that did not exist before.”
Point2 will issue the index on a monthly basis and intends to provide region-specific indices starting in this fall. The company will also provide advance reports to professionals who contribute to the index.
“Since the beginning of real estate time, at backyard barbeques and in neighborly conversations, consumers have asked real estate professionals the same question: ‘How’s the market and where do you think it’s headed?’” concludes Point2’s Klein. “The Real Estate Confidence Index reflects the collective answer of thousands of informed professionals across the country.”
About Point2 Technologies Inc.
Point2 Technologies develops and markets inventory management and online marketing software solutions for the real estate and heavy equipment industries. Point2 also owns and operates the real estate consumer portal, Point2 Homes and the used heavy equipment marketplace, UsedIron.
More information can be found at . For ongoing news about Point2, please visit www.point2.com/news.asp.
Point2 Technologies Inc.
Roger Noujeim, Vice President of Public Relations
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