The REALTORS® Confidence Index is a key indicator of housing market strength based on a monthly survey sent to over 50,000 real estate practitioners. Practitioners are asked about their expectations for home sales, prices and market conditions. In addition, the “Questions of the Month,” feature results of a timely aspect of the housing market.
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.
- Properties were typically on the market for 43 days (49 days in January 2019).
- First-time buyers accounted for 32 percent of sales (29 percent in January 2019).
- Cash sales made up 21 percent of sales (23 percent in January 2019).
- Nineteen percent of sellers offered incentives such as paying for closing costs (8 percent), providing warranty (8 percent), and undertaking remodeling (4 percent).
- REALTORS® report “low inventory” as the major issue affecting transactions in January 2020.
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I am a member of the National Association of Realtors, and did participate in this survey. This is shared from the National Association of REALTORS® post.