This blog post was written by Karen Belita, Data Scientist.
In the monthly REALTORS® Confidence Index Survey, the National Association of REALTORS® asks members if they have additional comments or information regarding the demand, demand-supply conditions, changing buyer profile and preferences, mortgage/credit issues, or other issues impacting the market in their own words. The additional comments supplied by the members are a glimpse of their personal point-of-view of the current housing market, which can intuitively support the data collected on the housing market.
The word cloud below shows the most popular words and/or phrases from the respondents in the April 2017 survey based on the April 2017 REALTORS® Confidence Index Survey Report. Word frequency is represented by the size of the word. The most frequent words and phrases in the April 2017 survey were “low inventory” and “multiple offer”, which indicates that continued tightness in supply, particularly relative to strong demand, is the primary issue affecting the real estate market.[1]
REALTORS® also provided comments on contract delay issues. The prominence of the words “lender”, “closing”, and “delay” indicates that lender delay was a major contract settlement issue in April 2017.
[1] Created by Karen Belita, Data Scientist, NAR Research
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