This blog post was written by Karen Belita, Data Scientist.
In the monthly REALTORS® Confidence Index Survey, the National Association of REALTORS® asks members if they have additional comments or information regarding demand-supply conditions, changing buyer profile and preferences, mortgage/credit issues, or other issues impacting the market in their own words.
Based on the additional comments by the members in the March 2017 REALTORS® Confidence Index Survey, one of the main issues and/or concerns of the members is the low inventory in the current housing market. This is supported by the word frequency of the following words and phrases: “low inventory,” “inventory low,” “shortage,” and “inventory.” The frequency of the phrase “multiple offer” also indicates that members are noticing that the current market is a seller’s market, and many buyers are competing for the few listings available.
The word frequency represents the most popular words and/or phrases within the collection of comments from the members. Word frequency is represented as size in the word cloud below. How does this compare with your local housing market?
Copyright NATIONAL ASSOCIATION OF REALTORS®. Reprinted with permission.