August Real Estate Index: The market is strong

Each quarter, in addition to the Consumer Sentiment and Price Expectations Report, I also produce the Real Estate Index using the methodology developed by the Sienna College Research Institute.

The figure below illustrates views on the real estate market in Virginia.

A measure of zero indicates an equal share of respondents feeling optimistic as those who feel pessimistic about the housing market. Perceptions of the market remain strong since the second quarter of 2014 with the only loss occurring in beliefs about buying in the next year. The Fed is likely going to raise rates in 2015 which is a potential determinant of the loss in optimism. 

You can read the entire report here.

The next set of reports will be released in November,