REBNY: Confidence Continues to Rise

NEW YORK CITY—The Real Estate Board of New York’s broker members reported a continuing growth in confidence in the first quarter of 2014. The growth in confidence builds on the positive trend going back to the third quarter of 2013. The report also reflects a similar growth in confidence for the market six months from now, according to the REBNY Real Estate Broker Confidence Index.

The first quarter 2014 report showed an increase in the overall confidence indexto 9.21 from 9.00 compared to the last quarter. This jump is due in part to the steadily improving economy as well as the continued increase of home sales in the city’s residential market. The overall confidence indexshowed a significant jump from the third quarter 2013 when the Index was 8.75.