REBNY Broker Confidence Indexes
August 11, 2021
Broker confidence rose to record levels during the second quarter of 2021, attaining new peaks in both residential and commercial sectors. Residential brokers expressed record confidence in both current and future market conditions. The Current Conditions Index (CCI) rose to 60.0 in the second quarter, up from 28.3 in the first quarter and attaining the highest score in the last five years. The Expectations Index (EXI) for the residential sector jumped to 55.8, up from 44.1 in the previous quarter, also a new peak. Commercial brokers were also highly optimistic. The Current Conditions Index (CCI) jumped to 20.8, rising from -23.3 in the first quarter and ending five consecutive quarters in negative territory. The CCI among commercial brokers still fell short of the prior peak of 34.1 in the first quarter of 2019. The Expectations Index (EXI) spiked to a new record, though, surging to 52.5.