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Real Estate Brokers Continue to Show Optimism in Market Outlook

You would think that the specter of higher interest rates on the horizon would really put a damper on realtors’ confidence in the real estate market. However, in the second quarter of 2015, the Real Estate Board of New York reports that its Real Estate Broker Confidence Index remains markedly positive.

While the confidence index dropped slightly from last month (down to 8.84 from last month’s 9.05), the indicator has not fluctuated more than a point in the past two years; good news if you are bullish on the real estate market. On the commercial real estate side, the outlook is even better. This quarter the Commercial Broker Confidence Index rose from 9.24 to 9.47; with many brokers citing employment growth as the driving factor in their rosy outlook.

Interestingly enough, rising interest rates were not the main concern for brokers in the residential market. Instead, residential brokers expressed the most concern about a lack of inventory. The moral of the story is that if you currently own or are in the market to purchase real estate in the near future, your investment should – at the very least – retain its value in the hot real estate market.