Real Estate Round-Up

City Influence Realtor Outlook shows Sellers More Flexible on Price

The City Influence survey of Realtors for April 2009 shows a more positive outlook on the Washington real estate market going forward. The Realtor Outlook combines projected transactions, current activity, seller flexibility, buyer demand and anticipated hiring into one index.

The index for April showed slightly overall positive sentiment among Realtors with a value of 50.2. The index ranges from 0 to 100. Sixty-one percent (61%) of Realtors are finding Sellers more flexible in their expectations on price. At the same time, 61% of Buyers are more demanding in their negotiations with Sellers.

“With the index showing 50.2 at a positive value and 36.4 at a neutral value, the overall outlook is positive for the spring market. The key finding in this month’s survey is that Sellers are becoming much more flexible in their price expectations and that factor will result in more sales,” said Kim Hoover, President of City Influence.

Sixty-seven percent (67%) of Realtors reported that they expect to do more business next month than last. Another 22% reported that business will be at least as good. Only 11% expect a downturn in their business. Eighty-eight percent (88%) of Realtors plan no hiring in the near future.

City Influence is a real estate marketing and research firm based in Washington, DC. For more information on surveys, marketing or other City Influence services, please contact Kim Hoover at 202-309-5209.