Strong buyer demand for homes continued to outpace supply in April.  The Buyer Traffic Index hit a high of 72, signifying increasing demand.  However, the Seller Traffic Index, an indicator of supply conditions, was unchanged at 41.  Source:  April REALTORS® Confidence Index (RCI) Survey (http://www.realtor.org/reports/realtors-confidence-index).

In many areas of the country, REALTORS® reported low inventory levels of homes for sale.  Tight inventory conditions have been cited as leading to higher prices and reduced time on market.

Advertisement