Similar to the Consumer Confidence Index published by the Conference Board, the relevance of the SCI lies in being the only economic indicator derived from the firsthand, up close observations of REALTORS® who operate at the front line of real estate in the Valley.
All three indices headed downward in November, perhaps as a reaction to the outcome of the Presidential election and the looming Fiscal Cliff.
- The Subscriber Confidence Index dropped 10.3 points to 75.6%.
- The Present Confidence Index fell 3.3 points to 80.5%.
- The Expected Confidence Index declined 15.6 points to 71.9%.
All representing the steepest decline in any of the three indices since ARMLS began tracking Subscriber Confidence in December 2010.
Similar to the Consumer Confidence Index, the SCI mirrors Subscriber reaction to changing market conditions and their experience with current Buyers and Sellers. This sentiment influences Subscriber investment and strategy regarding their professional real estate activities.