From floridarealtors.org
Realtors are “strongly confident” about the housing market’s outlook over the next six months, but their confidence has eased since the beginning of this spring, according to the latest Realtors Confidence Index, a monthly survey.
In general, Realtors reported “strong” local market conditions last month for single-family and townhome properties.
Still, Realtors report several concerns about the market.
The survey found the following top concerns:
• TILA-RESPA Integrated Disclosure regulations that take effect Oct. 3. Realtors are concerned closings could be delayed.
• Tight inventories: A limited number of homes for sale.
• Affordability issues: Potential sellers are hesitant to move because there are fewer affordable homes on the market.
• Financing issues, such as difficulty qualifying for a mortgage due to credit score and downpayment standards, the protracted mortgage approval process and condo-financing issues.
• Appraisal issues: conservative estimates, “out-of-town appraisers,” and slow turn-around.
• Rising interest rates.
• Uncertainty about flood insurance rates and reform.