The REALTORS® Confidence Index (RCI) survey gathers on-the-ground information from REALTORS® based on their real estate transactions in the month. This report presents key results about market transactions.
- With homebuying demand still outpacing supply, properties typically stayed on the market for shorter days compared to one year ago, at 18 days (19 days in the prior month, 20 days one year ago).
- Eighty-four percent of listings were on the market for less than one month (79% in the prior month, 74% one year ago).
- Buyer competition intensified, with respondents reporting an average of 4.8 offers for every home sold (3.9 in the prior month, 4.1 one year ago). Forty-eight percent of respondents reported that buyers’ price offers were above the list price (46% in the prior month).
- The share of first-time buyers slightly increased to 29% but the share was below the level one year ago (27% in the prior month; 31% one year ago). The expectation of higher mortgage rates could be encouraging buyers to lock in at the current low rates.
Note: the REALTOR® Confidence Index is provided by NAR solely for use as a reference. Resale of any part of this data is prohibited without NAR’s prior written consent.