Real Estate Confidence Index on the RISE!

National RECI Rebounds - Up 2.49% vs. February

Brokers and agents reversed three months of declining optimism and
pushed the RECI up from 5.63 in February 2010, to 5.77 in March(+2.49%).

Prevailing positive sentiment surrounding the current tax credit program
due to expire on April 30, 2010, combined with the onset of the typically
more active spring season helped to fuel the optimistic outlook.

Declining inventory levels in a number of states however emerged as a
primary catalyst for price stabilization and was seen by respondents as a
key reason for more frequent bidding wars in key states including
Florida, on low to mid range priced properties.

Amidst the renewed optimism, negative sentiment and apprehension
remained apparent in several states, with survey respondents indicating
buyer reluctance to commit due to job uncertainty. Pressure on prices
was also expected to continue by brokers and agents in most states,
driven by current foreclosure inventories, with more expected to hit the
market later this year.

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