Consumer Confidence in Real Estate Tech Increased by 7.25 Percent
The RE:Tech Consumer Confidence Index (RETCI) is an indicator designed to measure consumer confidence, which is defined as the degree of optimism on the state of the real estate technology economy that real estate professionals (consumer) are expressing through their activities.
The Average RETCI increased by nearly 7.25 percent in 2015 on a seasonally adjusted basis and overall real estate consumer sentiment from real estate professionals. According to the Real Estate Average Power Trend Index (REAPTI), since May 2014, the index decreased by nearly 11.8 percent. The Average RETCI is expected to moderately decrease by nearly 7 percent to nearly 70 percent in Q1 2016 according to the RE:Tech Futures RETCI Index.
The indexes for residential real estate demonstrated erratic movement since May 2014, while commercial real estate remained more moderate. The commercial real estate index, which overall remained stable in 2015, overall decreased by nearly 13 percent since May 2014.
Residential real estate’s assessment of current conditions was less positive when compared to commercial real estate. residential real estate professionals saying real estate technology business conditions are “good” decreased by nearly 12.5 percent since May 2014. However, during the same time period, commercial real estate assessment decreased by nearly 11 percent, expressing lack of “actionable innovation.”
Consumers’ optimism about the future short-term outlook declined moderately. The percentage of residential real estate professionals expecting business conditions to improve over the next 3 months decreased by 7.14 percent to nearly 65 percent, according to the Residential Power Trend Index (RPTI). During the same time, commercial real estate professionals expecting business conditions to improve remains moderately balanced at nearly 80 percent, with no significant movement, according to the Commercial Power Trend Index (CPTI).