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?

 

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Source: Economy

Copyright NATIONAL ASSOCIATION OF REALTORS®. Reprinted with permission.


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This Article Appears Courtesy of Steven Diadoo

Steven Diadoo, Licensed Realtor in MN with BRIDGE REALTY and best-selling author of 'Road to Success' with Jack Canfield (Chicken Soup for the Soul), Board Member at Bowling for Brains Non-Profit 501(c)3 (Event to benefit the American Brain Tumor Association), licensed Realtor with Bridge Realty, Seen on DIY TV, Create Channel and PBS. For help buying and/or selling a house, please call (952) 270-6141 or Click here.

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