The Subscriber Confidence Index report (SCI) is similar to the Consumer Confidence Index (CCI) in that it mirrors the ARMLS subscriber reaction to the changing Arizona real estate market conditions as well as their experience with current Phoenix AZ home buyers and Phoenix Arizona home sellers. The sentiment of these subscribers influences broker investment and strategy, and how real estate professionals manage their business. Please note that ARMLS subscribers are made up of Arizona licensed real estate brokers and agents.
Like the CCI which is published by the Conference Board, the real value of the SCI lies in being the only economic indicator derived from first hand and up close observations of REALTORS® experiencing what is going on at the front line of the Valley’s real estate market.
Subscriber Confidence was dampened in June as evidenced by de-clines in all three indices. The overall Subscriber Confidence Index declined 3.1% to 81.5%. The Present Confidence Index declined 3.4% to 79.6%, representing the first drop below 80% since Decem-ber 2011. The Expectation Index also fell 3% to 82.8%.
What exactly does this mean for Phoenix Arizona home buyers and sellers? We are still seeing a strong purchasing of single family detached property priced at or below $250,000 by cash buyers. Contact us about Greater Phoenix homes for sale, or to ask about what your home in the Greater Phoenix Valley might be worth and we can discuss with you more about the Phoenix AZ real estate market.