The National Association of REALTORS® monthly REALTOR Confidence Index is a key indicator of housing market health. Sent out to 50,000 real estate practitioners with 4,435 online respondents, REALTORS are asked to share their expectations for sales, prices and market conditions. Their responses are voluntary and anonymous.
Highlights of the RCI in May 2019
- 32% of all sales were generated by first-time buyers
- 19% of all sales were cast sales
- 82% of respondents said home prices remained constant or increased slightly
- 26 DOM
- Respondents indicated low inventory and interest rates impacted sales
Market Conditions and Expectations – all ratings above 50 are expected to improve
- Buyer Traffic Index – 63 (73 in 5/18)
- Seller Traffic Index – 49 (44 in 4.19)
- Confidence Index @ 6-month outlook
- Single family detached – 65
- Townhomes – 53
- Condominiums – 50
Characteristics of Buyers and Sellers
- First-time buyers – 32%
- Vacation and investor buyers – 13%
- Distressed sales – 2%
- Cash buyers – 19%
- 19% sellers offered incentives (warranties, closing costs, remodeling)
Living Status of Buyers at Time of Purchase
– 9% lived with family or friends
– 45% lived in rented house or apartment
– 40% lived in property they owned
Age Distribution of Buyers
- 25% – 34 years and under
- 51% – 35 – 55 years
- 24% – 56 years and older
Age Distribution of Sellers
- 10% – 34 years and under
- 45% – 35 – 55 years
- 45% – 56 years and older
Issues Affecting Buyers and Sellers
- 76% contracts closed on time
- 74% contracts closed with contingencies
- 62% had a price change
- 40% sold at original price or higher
Average number of Offers on Most Recent Closed Sale – 2.3
Average Number of Listings/Agent – 3.0
Average Number of Clients Taken on Home Tour – 4.9
Issues Affecting Buyers and Sellers
