REBNY 1st Quarter 2013 Broker Confidence Index Report

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The Real Estate Board of New York’s Real Estate Broker Confidence Index for the First Quarter of 2013 showed significant increases in brokers’ confidence in the current market, as well as their expectations of the market six months from now compared to the Fourth Quarter of 2012. Our survey, which is now compiled quarterly, recorded a one-point increase in the overall present situation index since last quarter to 8.87. This jump in confidence compared to the Fourth Quarter 2012 was due largely to the resolution of the fiscal cliff issue with the passage of the American Taxpayer Relief Act. This legislative action alleviated much of the anxiety and uncertainty that the broker survey conveyed at the end of the year.