Confidence about current and future real estate market conditions was essentially unchanged in February 2014 compared to January 2014, according to the REALTORS®  Confidence Index: http://www.realtor.org/reports/realtors-confidence-index.

Across the Northeast, Midwest, and Southern states, the adverse wintry weather had more than the usual seasonal effect on the market[1].  Fundamental factors such as low inventory[2], the erosion in home affordability from the previous month’s rapid price growth and uptick in interest rates, and tighter underwriting continued to weigh down the market recovery. Flood insurance issues were reported to be depressing activity in flood zone areas.

[1] Comments from REALTORS® in NJ, NY,  CT, ME, MA, PA, DE, MD, MI, OH, IL

[2] Comments from REALTORS® in  CA, NV, WA, OR, AZ, TN, MO, IL, WI, MN,  ID, NJ, MA, ME, PA, MD, VA, SC, and TN.

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