Realtors Keeping Eye On Rising Rates

Higher mortgage interest rates aren’t only of concern to home buyers. Real estate professionals are concerned, too.

The National Assn. of Realtors’ most recent monthly business confidence survey found brokers and agents expect a weaker real estate market in the coming months.

Members were asked whether they expect market conditions to be strong (100 points), moderate (50) or weak (0). For July, the outlook for single-family homes fell from 80.1 to 75.5, with expectations over the next six months falling from 78.7 to 75.1. The expectation for prospective buyer traffic dropped from 76.1 to 72.8, while prospective seller traffic fell from 60.7 to 60.1.