REBNY 1st Quarter 2022 Broker Confidence Report

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BROKER CONFIDENCE STILL ELEVATED, EVEN AS INFLATION & RISING INTEREST RATES POSE CHALLENGES

Broker confidence stayed in positive territory, but fell for the third quarter in a row. Residential indices registered more noticeable declines than in prior quarters. The residential Current Confidence Index (CCI) declined from 50.63 to 31.41. The commercial CCI was essentially flat, inching down from 17.89 to 17.05, its lowest mark since the first quarter of 2021. Brokers were less optimistic about the six-month outlook. The residential Expectations Index (EXI) dropped from 42.85 to 22.98 its lowest mark since late 2020. Commercial brokers also adjusted their outlook slightly lower, pushing the Commercial EXI down from 38.88 to 21.51. Of note, all brokers expressed negative outlooks for financing in the six-month outlook.