The Subscriber (ARMLS subscribers are made up of Arizona licensed real estate brokers and agents) Confidence Index report (SCI) is similar to the Consumer Confidence Index (CCI); it expresses the ARMLS subscriber perspective relative to the changing Arizona real estate market conditions and is based on their experience with current Phoenix AZ home buyers and Phoenix Arizona home sellers. Broker and agent sentiment influences broker investment and strategy, and how real estate professionals manage their business.
The most measurable value of the SCI report lies in being one of the few economic indicators that is derived directly from experiences and up close observations of REALTORS®; the subscribers gauge based on first hand knowledge as to what is going on with the Valley’s real estate market.
Subscriber Confidence was dampened in June as evidenced by de-clines in all three indices. The overall Subscriber Confidence Index declined 3.1% to 81.5%. The Present Confidence Index declined 3.4% to 79.6%, representing the first drop below 80% since Decem-ber 2011. The Expectation Index also fell 3% to 82.8%.
What exactly does this mean for Phoenix Arizona home buyers and sellers? We are still seeing a strong purchasing of single family detached property priced at or below $250,000 by cash buyers.