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.

This index intrigues me for a couple reasons.

1. it is a great offering by Point2. What a great way to extend their brand.
2. Economic data, although interesting is usually conflicted in producing any ability to describe what is really going on. One reason is that its just reporting numbers and crunching them.

This index is getting feedback from the “ground”. I guess the best anolgy I can think up at this early hour is an appraisal vs a BPO or brokers price opinion. The appraisal is usually based much more on what has happened (number crunching) than what is happening like in a BPO.

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