The REALTORS® Confidence Index (RCI), an indicator of expectations about the real estate market, slid down again in September. However, confidence about market conditions still remains high relative to the past five years.
What does this mean? Concern about a possible over-heated housing bubble appear to be misplaced. The economic impact of government fiscal tightening, along with other factors slowing the economy suggests a continued orderly recovery and expansion of the housing markets around the country. All real estate is local—so market experiences will vary. However, overall current expectations currently reflect a modest economic expansion accompanied by relatively normal housing markets.