Imprev Study Shows Real Estate Leaders' Outlook for Housing, Economy Softens for 2017

Who really has the pulse of the U.S., world, state and local economies? Those with boots on the ground versus those sitting in ivory towers, I'd argue. That's why I look forward to Imprev's annual study that examines the confidence that the top real estate broker-owners and executive management at franchises have in the housing market next year. There have been 240 responses this year from leaders who run brokerages that, together, are responsible for one of every two home sales transactions in the U.S.

It's the most comprehensive study of real estate industry Thought Leaders, and it has shown to be incredibly accurate. The message this year: Realtors are not always the eternal optimists they are portrayed to be as they are not as bullish on 2017 as they were on 2016.

Here's a look at their news release from today — with a link to a Summary Results PDF — that discloses the hard data from this survey:

Study Shows Real Estate Leaders' Outlook for Housing, Economy Softens for 2017

Imprev Thought Leader Study Also Reveals More Brokerages Feel Profitability Pressure

December 7, 2016 – Bellevue, WA –Top real estate executives' confidence in the U.S. economy and housing market for 2017 has softened compared to two years ago, and 42% have grown less confident in the world economy since January, according to the latest Imprev Thought Leader Real Estate Confidence study.

"Real Estate leaders are clearly less bullish about the coming year than they were two years ago," says Renwick Congdon, Chief Executive Officer of Imprev, a top provider of automated marketing services for real estate. "In fact, confidence for 2017 is lower across nearly all questions related to housing and the economy."

"When we compare past studies, an interesting trend emerges: Executives and broker-owners are less confident in the global economy and far more confident in their local economies at the end of each year than they were at the beginning. In fact, their confidence grows stronger the closer the economy is to home," Congdon explains. "This year, while only 4% of leaders say their confidence in the world economy has grown this year, 35% say their confidence in their own local economy has grown; while 13% have gained confidence in the U.S. economy, 26% have more confidence in their own state's economy."