REALTORS® Confidence Index

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Tnk VKMCTAVP @aeihdke`k Hedkx (V@H) Vkpart pravhdks laetncyheiarlmthae mfaut rkmc kstmtk lmrokt `aedhthaes med kxpk`tmthaes, fuykr/skcckr trmiih`,prh`k trkeds, fuykr praihcks, med hssuks miik`theb rkmc kstmtk fmskd ae m laetncy survkyai VKMCTAVP. Tnk Lmy 6:=; rkpart hs fmskd ae tnk rkspaesks ai 0,>:;

VKMCTAVP mfaut ca`mc lmrokt `aedhthaes he Lmy. Ai tnksk, 6,642 rkspaedkets`caskd m smck med wkrk msokd heiarlmthae mfaut tnk `nmrm`tkrhsth`s ai tnkhr cmst `caskdtrmesm`thae he Lmy. Tnk dmtm `acck`tkd iral m rmedal smlpck ai VKMCTAVP hsvhkwkd ta fk rkprksketmthvk ai tnk smcks iar tnk laetn =. Vkspaesks wkrk rk`khvkdiral Guek =->, 6:=;. Mcc rkmc kstmtk hs ca`mc7 `aedhthaes he spk`hih` lmrokts lmy vmryiral tnk avkrmcc emthaemc trkeds prksketkd he tnhs rkpart. VKMCTAVP lmy fkhetkrkstkd he `alpmrheb tnkhr lmrokts mbmhest tnk emthaemc sullmry.

Cmwrke`k Xue, Pkehar Yh`k Zrkshdket med @nhki K`aealhstGkd Plhtn, Lmembheb Dhrk`tar, ]umethtmthvk Vkskmr`n

Bmy @ararmtae, Vkskmr`n K`aealhst

Lkrkdhtn Duee, Vkskmr`n @allueh`mthaes Lmembkr

=Tnk survky wms sket ta ;:,::: VKMCTAVP wna wkrk skck`tkd tnraubn shlpck rmedal smlpcheb. Ta he`rkmsk tnk rkspaeskrmtk, tnk survky hs mcsa sket ta rkspaedkets he tnk prkvhaus tnrkk survkys wna pravhdkd tnkhr klmhc mddrkssks. Tnk eulfkr airkspaesks ta m spk`hih` quksthae vmrhks fk`musk tnk quksthae hs eat mppch`mfck ta tnk rkspaedket ar fk`musk ai eae-rkspaesk. Take`aurmbk survky pmrth`hpmthae, khbnt VKMCTAVP mrk rmedalcy skck`tkd ta rk`khvk m bhit `mrd.

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Tmfck ai @aetkets

Pullmry .................................................................................................................................................... =

H. Lmrokt @aedhthaes ................................................................................................................................. 6

VKMCTAVP Vkpartkd Ptraeb Lmrokts he Lmy 6:=; ........................................................................... 6

VKMCTAVP @aeihdke`k Mfaut tnk 9-Laetn Autcaao Kmskd he Lmy 6:=; ........................................ 6

VKMCTAVP Bkekrmccy Vkpartkd Hlpravheb Fuykr med Pkcckr Trmiih` he Lmy 6:=; .......................... ;

Last VKMCTAVP Vkpartkd Nhbnkr Zrh`ks iral m Xkmr Mba ............................................................... 2

VKMCTAVP Kxpk`t Zrh`ks ta He`rkmsk Ladkstcy he Ekxt =6 Laetns ................................................... 8

Zrapkrthks Ptmykd ae tnk Lmrokt iar Ckss Thlk mt 4: Dmys he Lmy 6:=; .............................................. =:

HH. Fuykr med Pkcckr @nmrm`tkrhsth`s ......................................................................................................... =6

Pmcks ta Ihrst Thlk Fuykrs7 06 Zkr`ket ai Pmcks ..................................................................................... =6

Pmcks iar Hevkstlket Zurpasks7 =4 Zkr`ket ai Pmcks ............................................................................... =4

Dhstrksskd Pmcks7 =: Zkr`ket ai Pmcks ...................................................................................................... =4

@msn Pmcks7 64 Zkr`ket ai Pmcks .............................................................................................................. =9

Hetkremthaemc Trmesm`thaes7 Mfaut Twa Zkr`ket ai Vkshdkethmc Lmrokt .................................................. =2

Vkets @aetheuk ta He`rkmsk ..................................................................................................................... =>

HHH. @urrket Hssuks .................................................................................................................................... =8

@rkdht @aedhthaes .................................................................................................................................... =8

@aetrm`t Pkttcklket Hssuks ...................................................................................................................... 6:

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Pullmry

Tnk heiarlmthae pravhdkd fy VKMCTAVP fmskd ae tnkhr `chket hetkrm`thaes hedh`mtkstnmt tnk rkmc kstmtk lmrokt strkebtnkekd he lmey ca`mc lmrokts he Lmy. He bkekrmc, VKMCTAVP

`aetheukd ta fk straebcy `aeihdket mfaut tnk autcaao iar mcc prapkrty typks he tnk ekxt shxlaetns. Pustmhekd gaf `rkmthae, tnk :.; pkr`ketmbk rkdu`thae he INMs laetncy lartbmbkhesurme`k prklhul rmtk, med tnk mvmhcmfhchty ai tnrkk- pkr`ket dawepmylket `aevkethaemc camesstmrtheb he Dk`klfkr 6:=4 wkrk rkpartkd ta pashthvkcy hlpm`t rkshdkethmc lmrokts med facstkrihrst-thlk nalkfuyheb dklmed.

Iar tnk ihitn laetn he m raw, tnkVKMCTAVP @aeihdke`k Hedkx-Phx-Laetn Autcaaowmsmfavk ;: m`rass mcc prapkrty typks (shebck imlhcy tawenalks, `aedalhehuls), hedh`mtheb tnmt tnkeulfkr ai rkspaedkets wna vhkwkd tnk lmrokt ms straeb auteulfkrkd tnask wna vhkwkd tnklmrokt ms wkmo. Ihrst-thlk nalkfuykrs m``auetkd iar 06 pkr`ket ai smcks, up iral 62 pkr`ket mykmr mba med 0: pkr`ket he Mprhc 6:=;. Hevketary, tnaubn hlpravheb, rklmhekd thbnt rkcmthvk tadklmed, sa prapkrthks typh`mccy sacd whtnhe 4: dmys emthaemccy. Dhstrksskd prapkrthks rklmhekd mt=: pkr`ket ai smcks, pur`nmsks iar hevkstlket purpasks mt =4 pkr`ket ai smcks, med `msn smcks mt64 pkr`ket ai smcks.

Vkspaedkets eatkd skvkrmc hssuks wkhbnheb dawe tnk lmrokts lalketul7

a Thbnt hevketarya Iheme`heb hssuks7 dhiih`ucty he qumchiyheb iar m lartbmbk duk ta nhbnkr IH@A `rkdht s`ark

med dawepmylket stmedmrds, pratrm`tkd lartbmbk mppravmc pra`kssa Mpprmhsmc hssuks7 `aeskrvmthvk ksthlmtks, usk ai aut-ai-tawe mpprmhskrs, scaw ture-

mraueda TVHD rkbucmthaes tnmt lmy dkcmy `casheb/skttcklket ai trmesm`thaes

a Dmlpkeheb kiik`t ai nhbnkr hetkrkst rmtks he tnk iuturk (mctnaubn meth`hpmthae ai nhbnkrrmtks `me spur dklmed he tnk snart-tkrl)a Dk`cheheb dklmed iral hetkremthaemc fuykrs duk ta m straeb [.P. daccmra Cm`o ai INM-mppravkd `aedalhehuls

Lmy 6:=; VKMCTAVP @aeihdke`k Hedkx Purvky Nhbnchbnts

Lmy 6:=; Mpr 6:=; Lmy 6:=4V@H @urrket @aedhthaes7 Phebck Imlhcy Pmcks= 20 2= 94

V@H 9 Laetn Autcaao7 Phebck Imlhcy Pmcks= 24 29 99

V@H Fuykr Trmiih` Hedkx= 9> 98 9:

V@H Pkcckr Trmiih` Hedkx= 4> 4> 40

Ihrst-thlk Fuykrs, ms Zkr`ket ai Pmcks (%) 06 0: 62

Pmcks ta Hevkstars, ms Zkr`ket ai Pmcks (%) =4 =4 =9@msn Pmcks, ms Zkr`ket ai Pmcks (%) 64 64 06

Dhstrksskd Pmcks, ms Zkr`ket ai Pmcks (%) =: =: ==

Lkdhme Dmys ae Lmrokt 4: 08 42

Lkdhme Kxpk`tkd prh`k brawtn he ekxt =6 laetns (%) 0.9 0.8 4.:= Me hedkx ai ;: hedh`mtks m fmcme`k ai rkspaedkets nmvheb wkmo(hedkx

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H. Lmrokt @aedhthaes

VKMCTAVP Vkpartkd Ptraeb Lmrokts he Lmy 6:=;

VKMCTAVP framdcy rkpartkd straeb brawtn m`rass lmey lmrokts he Lmy 6:=;,whtn tnk `aeihdke`k hedh`ks skttcheb mt nhbnkr ckvkcs `alpmrkd ta tnk smlk pkrhad cmst ykmr. Tnk

`aeihdke`k hedkx iar shebck-imlhcy nalks rask ta 20 (2= he Mprhc 6:=;? 94 he Lmy 6:=4). Tnkhedkx iar tawenalks wms sufstmethmccy ue`nmebkd mt ;6 (;0 he Lmr`n 6:=;? 49 he Lmy 6:=4).Tnk hedkx iar `aedalhehuls wms mcsa ksskethmccy ue`nmebkd mt 42 (4> he Mprhc 6:=;? 4= he Lmy6:=4). M `aeihdke`k hedkx mfavk ;: hedh`mtks tnmt tnk eulfkr ai rkspaedketswna vhkwkd tnkhrlmrokts ms straeb auteulfkrkd tnask wna vhkwkd tnkhr lmrokts ms wkmo.6

VKMCTAVP Vklmhe Bkekrmccy @aeihdket Mfaut tnk Autcaao he tnk Ekxt Phx Laetns

He Lmy 6:=;, VKMCTAVP wkrk fy med cmrbk straebcy `aeihdket mfaut tnk autcaaoiar mcc prapkrty typks he tnk ekxt shx laetns`alpmrkd ta m ykmr mba, mctnaubn `aeihdke`k tmpkrkd`alpmrkd ta tnk kxpk`tmthae he Mprhc 6:=;.0Iar tnk iaurtn laetn he m raw, tnk hedh`ks raskmfavk ;: iar mcc prapkrty typks. He tnk shebck imlhcy lmrokt, tnkVKMCTAVP @aeihdke`k Hedkx -Phx-Laetn Autcaao rkbhstkrkd mt 24 (29 he Mprhc 6:=;? 99 he Lmy 6:=4). Tnk hedkx iartawenalks rkbhstkrkd mt ;; (;> he Mprhc 6:=;? 4> he Lmy 6:=4). Tnk hedkx iar `aedalhehulsmcsa dhppkd ta ;: (;6 he Lmr`n 6:=;? 40 he Mprhc 6:=4). Me hedkx brkmtkr tnme ;: hedh`mtks tnmt

tnk eulfkr ai rkspaedkets whtn m straeb autcaao auteulfkrkd tnask whtn m wkmo autcaao.

Pustmhekd gaf `rkmthae mt m pm`k ai 66: tnausmed gafs pkr laetn he 6:=;, cawkr INMlaetncy lartbmbk hesurme`k prklhul rmtks (rksuctheb he m :.; pkr`ketmbk pahet rkdu`thae she`k

6Me hedkx ai ;: dkchekmtks ladkrmtk `aedhthaes med hedh`mtks m fmcme`k ai rkspaedkets nmvheb wkmo(hedkx:;

6::>:8

6::8:=

6::8:;

6::8:8

6:=::=

6:=::;

6:=::8

6:==:=

6:==:;

6:==:8

6:=6:=

6:=6:;

6:=6:8

6:=0:=

6:=0:;

6:=0:8

6:=4:=

6:=4:;

6:=4:8

6:=;:=

6:=;:;

VKMCTAVP @aeihdke`k Hedkx - @urrket @aedhthaes--

ms ai Lmy 6:=;

(;:

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Gmeumry 6:=;), med tnk mvmhcmfhchty ai tnrkk pkr`ket dawepmylket iar cames fm`okd fy ImeehkLmk med Irkddhk Lm` she`k kmrcy tnhs ykmr mrk chokcy uedkrpheeheb tnk hlpravkd lmrokt`aeihdke`k. Nawkvkr, VKMCTAV rkspaedkets kxprksskd `ae`kre tnmt tnk THCM-VKPZMHetkbrmtkd Dhs`casurk (TVHD) rkbucmthaes lmy dkcmy `cashebs. TVHD prks`rhfks shlpchihkddhs`casurk iarls tnmt tnk ckedkr ekkds ta dkchvkr ta tnk came mppch`met mitkr m came mppch`mthae hsrk`khvkd (Came Ksthlmtk) med fkiarkm came hs `aesullmtkd (Dhs`casurk Iarl) whtnhe prks`rhfkd

fushekss dmys med wmhtheb pkrhads.

4

Tnk afgk`thvk hs ta nkcp `aesulkrs uedkrstmed tnk okyikmturks, `asts, med rhsos ai tnk lartbmbk came iar wnh`n tnky mrk mppcyheb. Nawkvkr,VKMCTAV rkspaedkets rkpartkd tnmt tnk TVHD rkbucmthaes lmy ckmd ta dkcmykd `cashebs. Hemeatnkr EMV survky ai lartbmbk arhbhemtars, 92 pkr`ket ai rkspaedkets rkpartkd tnmt TVHD whccckmd ta dkcmys wnhck 62 pkr`ket rkpartkd ht whcc ckmd ta khtnkr dkcmys ar eae-`cashebs.

Tnk iaccawheb lmps snaw tnkVKMCTAV @aeihdke`k Hedkx-Phx-Laetn-Autcaao m`rassprapkrty typks fy stmtk.;He tnk `msk ai shebck imlhcy nalks, mcc stmtks rkbhstkrkd me hedkx brkmtkrtnme ;: iar tnk tnhrd laetn he m raw, wnh`n lkmes tnmt tnk eulfkr ai rkspaedkets wna nmd mstraeb autcaao auteulfkrkd tnask whtn wkmo autcaao. Dksphtk tnk sculp he ahc prh`ks, tnkrkmc kstmtk lmrokt rklmhekd framdcy straeb he Eartn Dmoatm, Tkxms, med Aocmnalm wnkrk tnkhedh`ks wkrk mfavk ;:.

He tnk `msk ai tawenalks med `aedalhehuls, @acarmda hs tnk nattkst lmrokt.Nalkfuyheb m`thvhty iar `aedas med tawenalks hs mcsa framdcy straeb he @mchiarehm, Arkbae,med Rmsnhebtae wnkrk m tk`neacaby faal hs iukcheb dklmed. Tkxms, Icarhdm, Ekw Xaro, medLmssm`nusktts mcsa nmd bkekrmccy straeb lmrokts. VKMCTAVP nmvk rkpartkd tnmt INMs medtnk BPKs (Imeehk Lmk med Irkddhk Lm`) iheme`heb kchbhfhchty rkbucmthaes lmok `aedalhehuliheme`heb dhiih`uct ta aftmhe.9

4Pkk @aesulkr Iheme`hmc Zratk`thae Furkmu.nttp7//www.`aesulkriheme`k.bav/rkbucmtary-hlpcklketmthae/thcm-rkspm/ ; Tnk lmrokt autcaao iar km`n stmtk hs fmskd ae dmtm iar tnk cmst tnrkk laetns ta he`rkmsk tnk afskrvmthaes iar km`n stmtk. Plmccstmtks su`n ms MO, ED, PD, LT, YT, RX, RY, DK, med tnk D.@. lmy nmvk ckss tnme 0: afskrvmthaes. 9Tnksk rkbucmthaes pkrtmhe ta awekrsnhp a``upme`y rkquhrklkets, dkchequket duks, pragk`t mppravmc pra`kss, med uskiar `allkr`hmc spm`k. Vkmd tnk Ptmtklket ai EMV Puflhttkd iar tnk Vk`ard ta tnk Pkemtk @allhttkk Nausheb medFmeoheb Miimhrs ae Dk`klfkr 8, 6:=4 mt nttp7//www.oskia`us.`al/fhccdmtmfmsk/`chketihcks/=26/=/6=>:.pdi

24

;;

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2:

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6::8:8

6:=::=

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6:=::8

6:==:=

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6:==:8

6:=6:=

6:=6:;

6:=6:8

6:=0:=

6:=0:;

6:=0:8

6:=4:=

6:=4:;

6:=4:8

6:=;:=

6:=;:;

VKMCTAVP @aeihdke`k Hedkx - Phx - Laetn Autcaao--

ms ai Lmy 6:=;

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VKMCTAVP @aeihdke`k Hedkx7 Autcaao he Ekxt Phx Laetns iar Phebck-Imlhcy Nalks

Fmskd ae Lmr 6:=;-Lmy 6:=; V@H Purvkys

VKMCTAVP @aeihdke`k Hedkx7 Autcaao he Ekxt Phx Laetns iar Tawenausks

Fmskd ae Lmr 6:=;-Lmy 6:=; V@H Purvkys

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VKMCTAVP @aeihdke`k Hedkx7 Autcaao he Ekxt Phx Laetns iar @aedalhehulsFmskd ae Lmr

6:=;-Lmy 6:=; V@H Purvkys

VKMCTAVP Bkekrmccy Vkpartkd Hlpravheb Fuykr med Pkcckr Trmiih` he Lmy 6:=;

VKMCTAVP rkpartkd straeb fuykr trmiih` he tnkhr ca`mc lmrokts he Lmy 6:=;.2TnkFuykr Trmiih` Hedkx wms ksskethmccy ue`nmebkd mt 9> (98 he Mprhc 6:=;? 9: he Lmy 6:=4). Mehedkx brkmtkr tnme ;: hedh`mtks tnmt lark rkspaedkets vhkwkd trmiih` ms straeb tnme tnask wna

vhkwkd trmiih` ms wkmo. VKMCTAVP nmvk rkpartkd tnmt tnk :.; pkr`ketmbk pahet rkdu`thae heINM lartbmbk hesurme`k prklhuls he Gmeumry 6:=; med tnk mvmhcmfhchty ai tnrkk pkr`ketdawepmylket `aevkethaemc cames wkrk nkcpheb nalkfuykrs.

Puppcy rklmhes thbnt, mctnaubn hlpravheb he stmtks su`n ms Tkxms, Yhrbhehm, Pautn@mrachem, Lmhek, Laetmem, Ryalheb, [tmn, med Pautn Dmoatm. Tnk Pkcckr Trmiih` Hedkx wmsue`nmebkd mt 4> (4> he Mprhc 6:=; med 40 he Lmy 6:=4). @aestru`thae ai ekw nalks hs fkcawtnk earlmc meeumc pm`k ai =.; lhcchae uehts mrhsheb iral nausknacd iarlmthae med tnkrkpckehsnlket ai dkprk`hmtkd nausheb. VKMCTAVP rkpartkd m skvkrk hevketary snartmbk helast mrkms, kspk`hmccy iar prapkrthks he tnk cawkr prh`k rmebk med iar tnask tnmt mrk lavk-herkmdy.

2Vkspaedkets wkrk msokd Naw da yau rmtk tnk pmst laetn's trmiih` he tnk ekhbnfarnaad(s) ar mrkm(s) wnkrk yau lmok last aiyaur smcks1 Tnk rkspaesks wkrk Ptraeb, Ladkrmtk, med Rkmo.

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VKMCTAVP Pkcckr Trmiih` Hedkx

Fmskd ae Lmr 6:=;-Lmy 6:=; V@H Purvkys

EMV mcsa trm`os dmtm ae tnk eulfkr ai prapkrthks snawe fy VKMCTAVP ushebPketrhca`o, CC@ dmtm. Iaat trmiih` `aetheukd ta snaw strkebtn he Lmy, tnk shxtn `aesk`uthvklaetn ai kxpmeshae. Tnk straeb cmtk sprheb iaat trmiih` fadks wkcc iar me kqumccy rafust sullkriar nalk smcks, mctnaubn thbnt hevketarhks med rhsheb rmtks lmy put m frmok ae brawtn. Pnawhebs

9>

4>

6:

0:

4:

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2:

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6::8:8

6:=::=

6:=::;

6:=::8

6:==:=

6:==:;

6:==:8

6:=6:=

6:=6:;

6:=6:8

6:=0:=

6:=0:;

6:=0:8

6:=4:=

6:=4:;

6:=4:8

6:=;:=

6:=;:;

VKMCTAVP Fuykr med Pkcckr Trmiih` Hedkxks-- ms ai Lmy 6:=;

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ekkd eat ek`kssmrhcy trmescmtk ta smcks, fut iaat trmiih` nms m straeb `arrkcmthae whtn iuturk`aetrm`ts med nalk smcks.>

Last VKMCTAVP Vkpartkd Nhbnkr Zrh`ks iral m Xkmr Mba

Mppraxhlmtkcy 9: pkr`ket ai rkspaedkets rkpartkd rhsheb prh`ks (;> he Mprhc 6:=;? 9> heLmy 6:=4). Ptraeb dklmed mlhd thbnt suppcy nms pusnkd up prh`ks. Tnk lkdhme prh`k ai mcckxhstheb nalks sacd he tnk [.P. ms ai Mprhc 6:=; wms $6=8,4::, me he`rkmsk ai ehek pkr`ket iraltnk ckvkcs aek ykmr mba. Emthaemccy, prh`ks mrk sthcc fkcaw tnk pkmo ckvkc ai $664,4:> he Gucy6::9. Ptraeb prh`k bmhes mlhd ladkst brawtn he he`alks nms kradkd miiardmfhchty mctnaubn EMVksthlmtks tnmt tnk lkdhme imlhcy he`alk ai $99,4>0 hs sthcc nhbnkr tnme tnk qumchiyheb he`alk ta

pur`nmsk m nausk ai $4:,06:.

Mfaut =9 pkr`ket ai nalks sacd mt m prklhul avkr tnk chst prh`k. Ptraeb fuykr dklmedmed stmbheb m nalk `me he`rkmsk prh`k. M``ardheb ta EMVs6:=; Zraihck ai Nalk Ptmbheb,06pkr`ket ai fuykrs mbkets fkchkvk stmbkd nalks he`rkmsks tnk daccmr vmcuk fuykrs mrk whccheb taaiikr fy aek ta ihvk pkr`ket.

Mctnaubn prh`ks mrk ae tnk uptrked, 90 pkr`ket ai prapkrthks sacd mt m dhs`auet `alpmrkdta tnk chstheb prh`k, whtn tnk prh`k dhs`auet typh`mccy he tnk rmebk ai = ta == pkr`ket. Dhstrksskdprapkrthks mrk dhs`auetkd lark stkkpcy.

>Iar lark heiarlmthae ae tnk Iaat Trmiih` Hedkx fmskd ae Pketrhca`o dmtm, pckmsk vhsht7 nttp7//www.rkmctar.arb/heiabrmpnh`s/iaat-trmiih`

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9:%

8%

0=%

:%

=:%

6:%

0:%

4:%;:%

9:%

2:%

>:%

6:=6:0

6:=6:;

6:=6:2

6:=6:8

6:=6==

6:=0:=

6:=0:0

6:=0:;

6:=0:2

6:=0:8

6:=0==

6:=4:=

6:=4:0

6:=4:;

6:=4:2

6:=4:8

6:=4==

6:=;:=

6:=;:0

6:=;:;

Zkr`ketmbk Dhstrhfuthae ai Zrh`k @nmebk iral m Xkmr Mba

Vkpartkd fy VKMCTAV Vkspaedkets --ms ai Lmy 6:=;

Nhbnkr Cawkr [e`nmebkd

4%

9%

68%

64%

6=%

8%

9%

6%

ekt dhs`auet ai 6:% ar lark

ekt dhs`auet ai =6% ta=8%

ekt dhs`auet ai 4% ta ==%

ekt dhs`auet ai brkmtkr tnme :% ta 0%

ea dhs`auet ar prklhul

ekt prklhul ai :% ta 0%

ekt prklhul ai 4% ta ==%

ekt prklhul ai == % ar lark

Zkr`ketmbk Dhstrhfuthae ai Ekt dhs`auet ar Ekt Zrklhul Iral tnk Chstheb

Zrh`k ai Pmcks Vkpartkd Fy VKMCTAV Vkspaedkets --Lmy 6:=;

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VKMCTAVP Kxpk`t Zrh`ks ta He`rkmsk Ladkstcy he Ekxt =6 Laetns

VKMCTAVP wna rkspaedkd ta tnk Lmy 6:=; survky kxpk`t prh`ks ta he`rkmsk mt mschbntcy imstkr pm`k he tnk ekxt =6 laetns `alpmrkd ta tnk kxpk`tmthae m laetn mba. Tnk lkdhmekxpk`tkd prh`k brawtn he tnk ekxt =6 laetns hs 0.8 pkr`ket (0.; pkr`ket he Lmr`n 6:=;? 4.:pkr`ket he Mprhc 6:=4).8

Phe`k mcc rkmc kstmtk hs ca`mc, prh`k kxpk`tmthae vmrhks m`rass ca`mc lmrokts med stmtks. Tnklmp fkcaw snaws tnk lkdhme kxpk`tkd prh`k`nmebk he tnk ekxt =6 laetns iar km`n stmtk fmskdae tnk Lmr`n 6:=;Lmy 6:=; V@H survkys.8VKMCTAV rkspaedkets iral @acarmda nmd tnklast upfkmt prh`k kxpk`tmthaes, whtn m lkdhme kxpk`tkd prh`k brawtn mt ekmrcy skvke pkr`ket.VKMCTAV rkspaedkets iral Arkbae, Icarhdm, med tnk Dhstrh`t ai @aculfhm kxpk`tkd prh`ks tahe`rkmsk he last mrkms fyihvk pkr`ket whtnhe tnk ekxt =6 laetns. Rhtn ahc prh`ks sthcc trkmdheb mtfkcaw nhstarh`mc ckvkcs, VKMCTAVP kxpk`tkd prh`ks ta typh`mccy he`rkmsk fy twa ta tnrkkpkr`ket he Eartn Dmoatm, Aocmnalm, Ryalheb, med Cauhshmem. He Tkxms, wnkrk tnk k`aealy hslark dhvkrshihkd, tnk lkdhme kxpk`tkd prh`k `nmebk he tnk ekxt =6 laetns hs mfaut iaur pkr`ket.

Lkdhme Kxpk`tkd Zrh`k @nmebk ai VKMCTAVP he Ekxt =6 Laetns, Fy Ptmtk

Fmskd ae Lmr 6:=;-Lmy 6:=; V@H Purvkys

8M `alpmrhsae ai tnk kxpk`tkd prh`k brawtn iar tnk ekxt =6 laetns `alpmrkd ta tnk m`tumc prh`k brawtn snaws tnk kxpk`tkdprh`k brawtn ta fk lark `aeskrvmthvk tnme tnk m`tumc prh`k brawtn, fut fatn mrk nkmdkd he tnk smlk dhrk`thae.8 He bkekrmtheb tnk lkdhme prh`k kxpk`tmthae mt tnk stmtk ckvkc, wk usk dmtm iar tnk cmst tnrkk survkys ta nmvk `cask ta 0:afskrvmthaes. Plmcc stmtks su`n ms MO,ED, PD, LT, YT, RX, RY, DK, med tnk D.@. lmy nmvk ckss tnme 0: afskrvmthaes.

Zmbk | 8

7/29/2019 REALTORS Confidence Index

13/25

Zrapkrthks Ptmykd ae tnk Lmrokt iar Ckss Thlk mt 4: Dmys he Lmy 6:=;

Rhtn thbnt hevketary, prapkrthks tnmt `caskd he Lmy 6:=; wkrk typh`mccy ae tnk lmrokt iarm rkcmthvkcy snart pkrhad ai thlk mt 4: dmys, mfaut tnk smlk dmys ms he Lmy fut snartkr `alpmrkdta cmst ykmrs (48 dmys he Mprhc 6:=;? 42 dmys he Lmy 6:=4).=:

Pnart smcks wkrk ae tnk lmrokt iar tnk caebkst thlk mt =0= dmys, wnhck iark`caskdprapkrthks typh`mccy stmykd ae tnk lmrokt mt ;9 dmys. Eae-dhstrksskd prapkrthks wkrk ae tnklmrokt mt 0> dmys.

Mppraxhlmtkcy 4; pkr`ket ai prapkrthks wkrk ae tnk lmrokt iar ckss tnme m laetn wnke

sacd (49 pkr`ket he Mprhc? 4= pkr`ket he Lmy 6:=4).

=:Vkspaedkets wkrk msokd Iar tnk cmst nausk tnmt yau `caskd he tnk pmst laetn, naw caeb wms ht ae tnk lmrokt iral chstheb tatnk thlk tnk skcckr m``kptkd fuykr's aiikr1 Tnk lkdhme dmys hs tnk eulfkr ai dmys su`n tnmt nmci ai tnk prapkrthks wkrk ae tnklmrokt iar tnask dmys med meatnkr nmci ai prapkrthks wkrk ae tnk lmrokt iar lark tnme tnask dmys.

:

;:

=::

=;:

6::

6:==:;

6:==:2

6:==:8

6:====

6:=6:=

6:=6:0

6:=6:;

6:=6:2

6:=6:8

6:=6==

6:=0:=

6:=0:0

6:=0:;

6:=0:2

6:=0:8

6:=0==

6:=4:=

6:=4:0

6:=4:;

6:=4:2

6:=4:8

6:=4==

6:=;:=

6:=;:0

6:=;:;

Lkdhme Dmys ae Lmrokt ai Pmcks Vkpartkd Fy VKMCTAV

Vkspaedkets--ms ai Lmy 6:=;

Mcc Iark`caskd Pnart Pmcks Eat dhstrksskd

Mcc7 4: Iark`caskd7 ;9 Pnartsmck7 =0= Eat dhstrksskd7 0>

Zmbk | =:

7/29/2019 REALTORS Confidence Index

14/25

Zrapkrthks sacd whtnhe m laetn he @acarmda, tnk Dhstrh`t ai @aculfhm, @mchiarehm, Tkxms,Arkbae, Rmsnhebtae, Hdmna, Eartn Dmoatm, Omesms, med Tkxms. Mcc rkmc kstmtk hs ca`mc. Ptmtk-ckvkcdmtm hs pravhdkd iar VKMCTAVP wna lmy wmet ta `alpmrk ca`mc lmrokts mbmhest tnk stmtk medemthaemc sullmry.

Lkdhme Dmys ae Lmrokt iar Pmcks Vkpartkd fy VKMCTAVP, Fy Ptmtk

Fmskd ae Lmr 6:=;-Lmy 6:=; V@H Purvkys

4;%

=9%

==%>%

4% 0%;% 4% ;%

:%

=:%

6:%

0:%

4:%

;:%

3= la = ta 3 6

las

6 ta 3 0

las

0 ta 3 4

las

4 ta 3 ;

las

; ta 3 9

las

9 ta 3 8

las

8 ta 3

=6 las

5

7/29/2019 REALTORS Confidence Index

15/25

HH. Fuykr med Pkcckr @nmrm`tkrhsth`s

Pmcks ta Ihrst Thlk Fuykrs7 06 Zkr`ket ai Pmcks

Ihrst-thlk nalk fuykrs mrk he`rkmshebcy rktureheb ta tnk lmrokt fmskd ae skvkrmc

hedh`mtars rkpartkd fy rkspaedkets. Ihrst-thlk nalkfuykrs lmdk up 06 pkr`ket ai kxhstheb nalksmcks he Lmy 6:=;, (0: pkr`ket he Mprhc 6:=;? 62 pkr`ket he Lmy 6:=4 ).==Ptraeb gaf brawtn(mfaut 0.; lhcchae he 6:=4), tnk rkdu`thae he tnk INM lartbmbk hesurme`k prklhul she`k Gmeumry6:=; (iral =.0; pkr`ket ta :.>; pkr`ket), med tnk mvmhcmfhchty ai tnrkk pkr`ket dawepmylket`aevkethaemc cames fm`okd fy Imeehk Lmk med Irkddhk Lm` mt tnk fkbheeheb ai tnk ykmr mppkmrta fk pashthvkcy hlpm`theb ihrst-thlk nalkfuykrs.

Mlaeb smcks ta ihrst-thlk nalk fuykrs aecy, fuykrs mbk 04 med uedkr m``auetkd iar 9;pkr`ket ai tnk smcks, up iral 9= pkr`ket he 6:=0.

== Ihrst thlk fuykrs m``auetkd iar mfaut 00 pkr`ket ai mcc nalkfuykrs fmskd ae dmtm iral EMVs 6:=4Zraihck ai NalkFuykrs med Pkcckrs(NFP). Tnk NFP hs m survky ai prhlmry rkshdke`k nalkfuykrs med daks eat `mpturk hevkstar pur`nmsks futdaks `avkr fatn kxhstheb med ekw nalk smcks. TnkV@H Purvkyhs m survky ai VKMCTAVP mfaut tnkhr trmesm`thaes med `mpturks

pur`nmsks iar hevkstlket purpasks med sk`aed nalks iar kxhstheb nalks.

06%

:%

=:%

6:%

0:%

4:%

;:%

9:%

6::>=:

6::8:6

6::8:9

6::8=:

6:=::6

6:=::9

6:=:=:

6:==:6

6:==:9

6:===:

6:=6:6

6:=6:9

6:=6=:

6:=0:6

6:=0:9

6:=0=:

6:=4:6

6:=4:9

6:=4=:

6:=;:6

Ihrst Thlk Fuykrs ms Zkr`ket ai Lmrokt-- ms ai Lmy 6:=;

Zmbk | =6

7/29/2019 REALTORS Confidence Index

16/25

Vketkrs m``auetkd iar 4: pkr ket ai smcks, up iral 09 pkr`ket he Mubust 6:=4 wnke tnkquksthae wms ihrst msokd he tnk V@H Purvky. Mctnaubn rkets mrk rhsheb imstkr tnme lartbmbkpmylkets, tnk rketkrsnhp rmtk nms rklmhekd kckvmtkd, chokcy duk ta m lhx ai im`tars rkcmtkd tachikstyck `nah`k, nausknacd iarlmthae, iheme`hmc `aestrmhets iar yauebkr nausknacds, med thbntkruedkrwrhtheb stmedmrds.

He rkpartheb ae tnkhr cmst smcks iar Lmr-Lmy 6:=;, VKMCTAVP rkpartkd tnmt mlaebfuykrs 04 ykmrs med uedkr, >9 pkr`ket pur`nmskd shebck-imlhcy nalks, schbntcy mfavk tnk avkrmccrmtk ai >4 pkr`ket. Ihrst-thlk nalk fuykrs nmvk typh`mccy tkedkd ta pur`nmsk `aedalhehuls msstmrtkr nalks. Tnk snhit tawmrds shebck-imlhcy dktm`nkd nalks lmy fk duk ta tnk dhiih`ucthksmssa`hmtkd whtn aftmheheb m lartbmbk iar `aedalhehul prapkrthks. VKMCTAVP nmvk rkpartkdtnk cm`o ai INM-mppravkd `aedalhehuls iar wnh`n me INM lartbmbk `me aftmhekd.

9=% 94% 9;%

0;% 06% 0=%

4% 4% 0%

:%

=:%

6:%

0:%

4:%

;:%

9:%2:%

>:%

8:%

=::%

6:=0 6:=4 6:=;

Mbk ai Ihrst-thlk Fuykrs Vkpartkd fy VKMCTAVP --

ms ai Lmy 6:=;

Mbk 04 med uedkr Mbk 0; - ;; Mbk ;9+

>9% >9%22% >4%

2% 9%2% 9%

2% >% =9% =:%

:%

6:%

4:%

9:%

>:%

=::%

Mbk 04 med uedkr Mbk 0; - ;; Mbk ;9+ Mcc

Typk ai Vkshdkethmc Zrapkrty Zur`nmskd fy Mbk Braup ai

Pmcks Vkpartkd fy VKMCTAVP-- Gme - Lmy 6:=;

Phebck Imlhcy-Dktm`nkd Tawenausk/Dupckx @aedalhehul

Zmbk | =0

7/29/2019 REALTORS Confidence Index

17/25

Pmcks iar Hevkstlket Zurpasks7 =4 Zkr`ket ai Pmcks

Mppraxhlmtkcy =4 pkr`ket ai VKMCTAVP rkpartkd tnmt tnkhr cmst smck wms iarhevkstlket purpasks (=4 pkr`ket he Mprhc 6:=;? =9 pkr`ket he Lmy 6:=4). Zur`nmsks iarhevkstlket purpasks nmvk fkke ae tnk dk`chek whtn ikwkr dhstrksskd smcks ae tnk lmrokt.

Dhstrksskd Pmcks7 =: Zkr`ket ai Pmcks

Rhtn rhsheb nalk vmcuks med ikwkr iark`casurks, tnk snmrk ai smcks ai dhstrksskdprapkrthks `aetheukd ta dk`chek. He Lmy 6:=;, dhstrksskd smcks m``auetkd iar =: pkr`ket ai smcks(=: pkr`ket he Mprhc 6:=;? == pkr`ket he Lmy 6:=4). Dhstrksskd smcks nmvk trkedkd mt tnhs ckvkc

>9% >9%22% >4%

2% 9%2%

9%2% >%

=9% =:%

:%

6:%

4:%

9:%

>:%

=::%

Mbk 04 med uedkr Mbk 0; - ;; Mbk ;9+ Mcc

Typk ai Vkshdkethmc Zrapkrty Zur`nmskd fy Mbk Braup ai Pmcks

Vkpartkd fy VKMCTAVP-- Gme - Lmy 6:=;

Phebck Imlhcy-Dktm`nkd Tawenausk/Dupckx @aedalhehul

=4%

:%

;%

=:%

=;%

6:%

6;%

0:%

6::>=:

6::8:6

6::8:9

6::8=:

6:=::6

6:=::9

6:=:=:

6:==:6

6:==:9

6:===:

6:=6:6

6:=6:9

6:=6=:

6:=0:6

6:=0:9

6:=0=:

6:=4:6

6:=4:9

6:=4=:

6:=;:6

Pmcks ta Hevkstars ms Zkr`ket ai Lmrokt-- ms ai Lmy 6:=;

Zmbk | =4

7/29/2019 REALTORS Confidence Index

18/25

she`k tnk lhddck ai 6:=4. Mfaut skvkepkr`ket ai rkpartkd smcks wkrk iark`caskd prapkrthks, medmfaut tnrkk pkr`ket wkrk snart smcks.=6Dhstrksskd smcks nmvk imccke ms tnk snmrk ai cames tnmt mrkpmst duk med he tnk iark`casurk pra`kss nms dk`chekd ta mfaut ihvk pkr`ket ai mcc lartbmbks iralekmrcy =: pkr`ket he 6::8.=0Ikwkr dhstrksskd smcks med iark`casurks hlpravks nalk vmcuks,`rkmtheb lark nalk kquhty iar tnk nalkawekr.

Iark`caskd prapkrty sacd mt m =; pkr`ket mvkrmbk dhs`auet, wnhck snart smcks sacd mt memvkrmbk ai =9 pkr`ket dhs`auet. Iar tnk pmst =6 laetns, dhstrksskd prapkrthks he mfavk mvkrmbk`aedhthae wkrk dhs`auetkd fy me mvkrmbk ai 8-== pkr`ket, wnhck prapkrthks he fkcaw mvkrmbk`aedhthae wkrk dhs`auetkd mt me mvkrmbk ai =9-6: pkr`ket.

=6 Tnk survky msos rkspaedkets ta rkpart ae tnk `nmrm`tkrhsth`s ai tnk last rk`ket smck iar tnk laetn.

=0 Lartbmbk Fmeokrs Mssa`hmthae, skmsaemccy mdgustkd dmtm.

:%

=:%

6:%

0:%

4:%

;:%

9:%

6::>=:

6::8:6

6::8:9

6::8=:

6:=::6

6:=::9

6:=:=:

6:==:6

6:==:9

6:===:

6:=6:6

6:=6:9

6:=6=:

6:=0:6

6:=0:9

6:=0=:

6:=4:6

6:=4:9

6:=4=:

6:=;:6

Dhstrksskd Pmcks, Ms Zkr`ket ai Pmcks Vkpartkd fy VKMCTAVVkspaedkets-- ms ai Lmy 6:=;

Iark`caskd Pnart Pmck

Iark`caskd7 2% Pnartsmck7 0%

=;%

=9%

:%

;%

=:%

=;%

6:%

6;%

6::8:6

6::8:;

6::8:>

6::8==

6:=::6

6:=::;

6:=::>

6:=:==

6:==:6

6:==:;

6:==:>

6:====

6:=6:6

6:=6:;

6:=6:>

6:=6==

6:=0:6

6:=0:;

6:=0:>

6:=0==

6:=4:6

6:=4:;

6:=4:>

6:=4==

6:=;:6

6:=;:;

Lkme Zkr`ketmbk Zrh`k Dhs`auet ai Dhstrksskd Pmcks Vkpartkd

fy VKMCTAV Vkspaedkets --ms ai Lmy 6:=;

Iark`caskd Pnartsmck

Zmbk | =;

7/29/2019 REALTORS Confidence Index

19/25

@msn Pmcks7 64 Zkr`ket ai Pmcks

Tnk snmrk ai `msn smcks ta tnk lmrokt nms dk`chekd `alpmrkd ta tnk ckvkcs skke he 6:=:-6:=4. Mppraxhlmtkcy 64 pkr`ket ai VKMCTAV rkspaedkets rkpartkd tnmt tnkhr cmst trmesm`thaewms m `msn smck (64 pkr`ket he Mprhc 6:=;? 06 pkr`ket he Lmy 6:=4). Fuykrs ai nalks iarhevkstlket purpasks med sk`aed nalks med iarkhbe `chkets mrk lark chokcy ta pmy `msn tnme ihrst-thlk nalk fuykrs. Ms smcks ta hevkstars med dhstrksskd prapkrthks nmvk imccke, tnk snmrk ai `msnsmcks nms dk`chekd ms wkcc.

==%=6%

6:%

8%==%

=9%

:%

;%

=:%

=;%

6:%

6;%

Lkme Zkr`ket Zrh`k Dhs`auet fy Zrapkrty @aedhthae

ai Dhstrksskd Pmcks Vkpartkd fy VKMCTAV Vkspaedkets --

Mvkrmbk iar Guek 6:=4 - Lmy 6:=;

Iark`caskd Pnart smck

64%

:%

;%

=:%

=;%

6:%

6;%

0:%

0;%

4:%

6::>=:

6::8:6

6::8:9

6::8=:

6:=::6

6:=::9

6:=:=:

6:==:6

6:==:9

6:===:

6:=6:6

6:=6:9

6:=6=:

6:=0:6

6:=0:9

6:=0=:

6:=4:6

6:=4:9

6:=4=:

6:=;:6

@msn Pmcks ms Zkr`ket ai Lmrokt-- ms ai Lmy 6:=;

Zmbk | =9

7/29/2019 REALTORS Confidence Index

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Hetkremthaemc Trmesm`thaes7 Mfaut Twa Zkr`ket ai Vkshdkethmc Lmrokt

Ekmrcy twa pkr`ket pkr`ket ai VKMCTAV rkspaedkets rkpartkd tnkhr cmst smck wms mpur`nmsk fy m iarkhbekr eat rkshdheb he tnk [.P. Hetkremthaemc fuykrs irkquketcy pmy `msn mednmvk typh`mccy pur`nmskd prapkrthks mfavk tnk lmrokt lkdhme prh`k. Fmskd ae EMVs6:=;Zraihck ai Nalkfuyheb M`thvhty ai Hetkremthaemc @chkets, Icarhdm, @mchiarehm, Tkxms, med Mrhzaemmrk tnk lmgar dksthemthaes.

>%

92%

;4%

=2%

>0%

40%

:%

=:%

6:%

0:%

4:%

;:%

9:%

2:%

>:%

8:%

ITNFuykr Hevkstar Pk`aed

nalk

Vkca`mthae Hetkremthaemc Dhstrksskd

Pmck

Zkr`ket ai Pmcks Vkpartkd fy VKMCTAV Vkspaedkets Tnmt mrk

Mcc-@msn Fy Typk ai Fuykr-- Lmy 6:=;

=.8%

:.:%

:.;%

=.:%

=.;%

6.:%

6.;%

0.:%

0.;%

4.:%

6:=::0

6:=::9

6:=::8

6:=:=6

6:==:0

6:==:9

6:==:8

6:===6

6:=6:0

6:=6:9

6:=6:8

6:=6=6

6:=0:0

6:=0:9

6:=0:8

6:=0=6

6:=4:0

6:=4:9

6:=4:8

6:=4=6

6:=;:0

Pmcks ta Hetkremthaemc @chkets ms Zkr`ket ai Lmrokt--ms ai Lmy 6:=; V@H Purvky

Zmbk | =2

7/29/2019 REALTORS Confidence Index

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Vkets @aetheuk ta He`rkmsk

Mfaut ;2 pkr`ket ai VKMCTAV rkspaedkets rkpartkd rhsheb rket, (;0 pkr`ket he Mprhc6:=;? ;0 pkr`ket he Lmy 6:=4). Vhsheb rkets hedh`mtk `aetheukd straeb dklmed iar rketmcprapkrthks rmtnkr tnme m nausk pur`nmsk. Mctnaubn rkets mrk rhsheb imstkr tnme lartbmbk pmylkets,tnk rketkrsnhp rmtk nms rklmhekd kckvmtkd, chokcy duk ta m lhx ai im`tars su`n ms chikstyck `nah`k,

iheme`hmc `aestrmhets iar yauebkr nausknacds, med thbntkr uedkrwrhtheb stmedmrds.

;2%

:%

=:%

6:%

0:%

4:%

;:%

9:%

2:%

6:=:=6

6:==:0

6:==:9

6:==:8

6:===6

6:=6:0

6:=6:9

6:=6:8

6:=6=6

6:=0:0

6:=0:9

6:=0:8

6:=0=6

6:=4:0

6:=4:9

6:=4:8

6:=4=6

6:=;:0

Zkr`ket ai VKMCTAV Vkspaedkets Vkpartheb Vhsheb Vket

Ckvkcs @alpmrkd ta =6 Laetns Mba--ms ai Lmy 6:=;

8;

=40

;:

2:

8:

==:

=0:

=;:

]=/6:::

]4/6:::

]0/6::=

]6/6::6

]=/6::0

]4/6::0

]0/6::4

]6/6::;

]=/6::9

]4/6::9

]0/6::2

]6/6::>

]=/6::8

]4/6::8

]0/6:=:

]6/6:==

]=/6:=6

]4/6:=6

]0/6:=0

]6/6:=4

]=/6:=;

Vket Brawtn Nms Autpm`kd Lartbmbk Zmylket Brawtn

Phe`k 6:::

Lartbmbk Zmylket (6:::]=

7/29/2019 REALTORS Confidence Index

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HHH. @urrket Hssuks

@rkdht @aedhthaes

VKMCTAVP nmvk rkpartkd tnmt `rkdht `aedhthaes rklmhe bkekrmccy thbnt, whtnshbehih`met came pra`kssheb dkcmys. Aek hedh`mtar ai `rkdht thbntekss hs tnk dhstrhfuthae ai IH@A

s`arks ae mppravkd cames.

Mfaut 48 pkr`ket ai VKMCTAVP pravhdheb trmesm`thae `rkdht s`ark heiarlmthaerkpartkd IH@A `rkdht s`arks he tnk rmebk ai 24:+. Iar `alpmrhsae, he tnk pkrhad =888-6::4, aecy02 pkr`ket ai Imeehk Lmks med 00 pkr`ketai Irkddhk Lm`s 0:-ykmr, ihxkd rmtk, iuccy mlarthzhebcames nmd IH@A s`arks brkmtkr tnme 2;:.=4

Purprhshebcy, mctnaubn aftmheheb m lartbmbk nms fkke bkekrmccy pkr`khvkd ms dhiih`uctiar ihrst-thlk nalkfuykrs, aecy 0= pkr`ket ai fuykrs wkrk rkpartkd ta nmvk IH@A s`arks ai 24:ar nhbnkr. Tnhs hedh`mtks tnmt ihrst-thlk fuykrs wkrk chokcy mfck ta mvmhc ai INM cames wnkrkIH@A s`ark rkquhrklkets mrk cawkr `alpmrkd ta `aevkethaemc came. Mlaeb eae-ihrst thlknalkfuykrs, ;9 pkr`ket nmd IH@A s`arks ai 24: ar nhbnkr.

=4Paur`k7 [rfme Hesthtutk Nausheb Iheme`k Zach`y @ketkr, Nausheb Iheme`k mt m Bcme`k, Lmy 6:=; `nmrtfaao.

nttp7//www.urfme.arb/shtks/dkimuct/ihcks/mcirks`a/pufch`mthae-pdis/6:::60=-Nausheb-Iheme`k-Mt-M-Bcme`k-

Laetncy-@nmrtfaao-Lmy-6:=;.pdi

6%

4>%

48%

:%

=:%

6:%

0:%

4:%

;:%

9:%2:%

6:=6:6

6:=6:4

6:=6:9

6:=6:>

6:=6=:

6:=6=6

6:=0:6

6:=0:4

6:=0:9

6:=0:>

6:=0=:

6:=0=6

6:=4:6

6:=4:4

6:=4:9

6:=4:>

6:=4=:

6:=4=6

6:=;:6

6:=;:4

Zkr`ketmbk Dhstrhfuthae ai IH@A P`arks Vkpartkd fy VKMCTAV

Vkspaedkets --ms ai Lmy 6:=;

3 96: 96:-24: 24:+

Zmbk | =8

7/29/2019 REALTORS Confidence Index

23/25

@aetrm`t Pkttcklket Hssuks

He rkpartheb ae tnkhr cmst `aetrm`t, VKMCTAVP rkpartkd tnmt last `aetrm`ts wkrkskttckd ae thlk. Mlaeb `aetrm`ts durheb tnk tnrkk laetn thlk pkrhad Lmr-Lmy 6:=;, 90 pkr`ketai `aetrm`ts wkrk skttckd ae thlk, 6> pkr`ket nmd dkcmykd skttcklket, med ehek pkr`ket wkrktkrlhemtkd.

Ai mcc `aetrm`ts tnmt wket heta skttcklket (ae thlk ar dkcmykd) ar wkrk tkrlhemtkd, 48pkr`ket im`kd salk typk ai hssuk7 =9 pkr`ket nmd iheme`heb hssuks, == pkr`ket nmd mpprmhsmchssuks, med =: pkr`ket nmd nalk hespk`thae hssuks.

Mlaeb tnk `aetrm`ts tnmt wkrk dkcmykd (6> pkr`ket), iheme`heb hssuks wkrk tnk prhlmry`musk ai `aetrm`t dkcmys7 4= pkr`ket ai dkcmykd `aetrm`ts nmd iheme`heb hssuks.

Mlaeb `aetrm`ts tnmt wkrk tkrlhemtkd (ehek pkr`ket), iheme`heb med nalk hespk`thaehssuks wkrk tnk lmgar `musks7 69 pkr`ket ai tkrlhemtkd `aetrm`ts nmd m iheme`heb hssuk ms wkcc msm nalk hespk`thae hssuk.

0%

=2%64% 6;%

0=%

=%2%

=;%

6=%

;9%

:%

=:%

6:%

0:%

4:%

;:%

9:%

fkcaw 96: 96:-9;8 99:-988 2::-208 24:+

Zkr`ketmbk Dhstrhfuthae ai IH@A @rkdht P`arks iar Ihrst-thlk

med Eae-ihrst- thlk Fuykrs Vkpartkd fy VKMCTAVP--

Gme-Lmy 6:=;

Ihrst-thlk Eae-ihrst-thlk

Zmbk | 6:

7/29/2019 REALTORS Confidence Index

24/25

9;% 92% 9;% 94% 90%

69% 62% 69% 69% 6>%

>% 2% 8% =:% 8%

6:=;:= 6:=;:6 6:=;:0 6:=;:4 6:=;:;

:%

6:%

4:%

9:%

>:%

=::%

@aetrm`t Pkttcklket he tnk Zmst 0 Laetns--

ms ai Lmy 6:=;

@aetrm`t wms tkrlhemtkd

@aetrm`t wms dkcmykd fut kvketumccy wket heta skttcklket

@aetrm`t wms skttckd ae thlk

;=%

=9%

==%

=:%

4%

0%

0%

=%

=%

==%

ea prafckls ke`auetkrkd

hssuks rkcmtkd ta aftmheheb iheme`heb

mpprmhsmc hssuks

nalk hespk`thae/kevhraelketmc hssuks

thtcheb/dkkd hssuks

`aethebke`hks stmtkd he tnk `aetrm`t

hssuks he fuy/skcc dhstrksskd prapkrty

nalk/nmzmrd/icaad hesurme`k hssuks

fuykr cast gaf

Atnkr

Zrafckls Ke`auetkrkd iar @aetrm`ts Tnmt Rket Heta Pkttcklket ar

Rkrk Tkrlhemtkd he tnk Zmst 0 Laetns* --Lmy 6:=;

* Rhcc eat sul ta =:: pkr`ket fk`musk lucthpck rkspaesks mrk mccawkd. "Atnkr" he`cudks fuykr

ar skcckr fm`oheb aut, fuhcdkr dkcmys, NAM hssuks, prh`heb hssuks, hssuks he fuyheb/skccheb

dhstrksskd prapkrty, kt`.

Zmbk | 6=

7/29/2019 REALTORS Confidence Index

25/25

4=%

6=%

==%

=:%

2%

9%

4%

=%

=%

66%

hssuks rkcmtkd ta aftmheheb iheme`heb

mpprmhsmc hssuks

nalk hespk`thae/kevhraelketmc hssuksthtcheb/dkkd hssuks

`aethebke`hks stmtkd he tnk `aetrm`t

hssuks he fuy/skcc dhstrksskd prapkrty

ea prafckls ke`auetkrkd

nalk/nmzmrd/icaad hesurme`k hssuks

fuykr cast gaf

Atnkr

Zrafckls Ke`auetkrkd iar @aetrm`ts Tnmt Rkrk Dkcmykd Fut Kvketumccy

Rket Heta Pkttcklket he tnk Zmst 0 Laetns* --Lmy 6:=;

(Dkcmykd @aetrm`ts Vkprksket 6> Zkr`ket ai @caskd ar Tkrlhemtkd @aetrm`ts)

* Rhcc eat sul ta =:: pkr`ket fk`musk lucthpck rkspaesks mrk mccawkd. "Atnkr" he`cudks fuykr ar

skcckr fm`oheb aut, fuhcdkr dkcmys, NAM hssuks, prh`heb hssuks, da`ulketmthae hssuks, hssuks he

fuyheb/skccheb dhstrksskd prapkrty,kt`.

69%

69%

=0%

2%

2%4%

0%

6%

6%

62%

hssuks rkcmtkd ta aftmheheb iheme`heb

nalk hespk`thae/kevhraelketmc hssuks

mpprmhsmc hssuks

hssuks he fuy/skcc dhstrksskd prapkrty

`aethebke`hks stmtkd he tnk `aetrm`tfuykr cast gaf

ea prafckls ke`auetkrkd

thtcheb/dkkd hssuks

nalk/nmzmrd/icaad hesurme`k hssuks

Atnkr

Zrafckls Ke`auetkrkd iar @aetrm`ts Tnmt Tkrlhemtkd he tnk

Zmst 0 Laetns*--Lmy 6:=;

(Tkrlhemtkd @aetrm`ts Vkprksket 8 Zkr`ket ai @caskd ar Tkrlhemtkd @aetrm`ts)

*Rhcc eat sul ta = :: pkr`ket fk musk lucthpck rkspaesks mrk mccawkd. "Atnkr" he`cudks fuykr ar

skcckr fm`oheb aut, fuhcdkr dkcmys, NAM hssuks, prh`heb hssuks, da`ulketmthae hssuks, hssuks he

fuyheb/skccheb dhstrksskd prapkrty,kt`.

Z | 66