Here is the latest REALTORS’ Confidence Index Survey, a key indicator of the strength of the housing market. Take a look at the findings:

Market Conditions and Expectations – scores of 50 and above indicate that conditions are expected to improve

Buyer Traffic Index – 55

Seller Traffic Index – 44

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Confidence Index – 61 for single-family housing; 50 for townhouses; 47 for condominiums

Days on the Market – 36

80% respondents said home prices rose in 10/19; 76% in 10/18

Characteristics of Buyers and Sellers

First-time buyers – 31% of all sales

Vacation and investment buyers – 14% of all sales

Distressed sales – 2% of all sales

Cash sales – 19% of all sales; 23% in 10/18

Sellers offering incentives – 20% of all sales

Closing costs – 9%; Warranties – 9%; Remodeling –  3%

Contingencies offered – 74%

Issues Affecting Buyers/Sellers

From August to October 2019, 73% of contracts settled on time

Sales with contingencies – 74%

Home Inspections – 57%; Obtaining Financing – 43%;

Obtaining acceptable appraisal – 43%

Low inventories and mortgage rates

Price Changes

Higher – 58%

Lower – 20%

Unchanged – 21%

Sold at original price or net premium from listing price – 37%

Median price changes expected within next 12 months

+2%-3% – WA, ID, VT, CO, NY, OK, AR, MO, MS, WI,     IN, PA, VT, VA, GA, FL, SC, NC, TN, DE, DC, MD

+3%-4% – AL, WY, AZ

Average Number of Listings/Agent – 2.8

Average Number of Clients Taken on Tour – 4.6

Average Number of Offers Received on Most Recent Sale – 2.2

Characteristics of Sellers

34 years and younger – 10%

35 – 55 years – 43%

56 years and older – 47%

Use of property sold

– Primary residence – 67%

– Investment property – 23%

– Vacation property – 5%

Characteristics of Buyers

34 years and younger – 26%

35 – 56 years – 48%

56 years and older – 26%

Unmarried partners – 9%

Prior living situation

  • Lived in property they owned – 41%
  • Lived in apartment they rented – 43%
  • Lived with parents without paying rent – 11%

First-time buyers putting down less than 20% – 77%

All buyers putting down less than 20% – 54%

Thanks to the National Association of REALTORS® (NAR) for source data.

Also read: Median Home Prices Jump +8% in Q3 2019, Lux Sales in Hamptons Drop to 6-Year Low, eXp Launches Its Own Iteration of Instant Offers Program