Economists' Outlook

Housing stats and analysis from NAR's research experts.

Increasing REALTOR® Optimism Sustained in February

Confidence about current market conditions and in the outlook for the next six months rose in February  based on information gathered in the February REALTORS® Confidence Index (RCI) Survey ( REALTORS® generally mentioned strong  buyer demand and improving prices amid tight inventory and restrictive credit conditions.

Examples of improving residential markets are delineated in detail in the RCI Report.

  • Eighty three percent of REALTORS®  reported constant or higher prices in January compared to a year ago.
  • Median days on market for all sales was reported at 74 days in January compared to 97 days  a year ago.
  • Thirty-three percent of respondents reported time on market at less than 1 month when sold.
  • Ninety-two percent of REALTORS® reported that they expect constant or higher prices in the next 12 months.

Distressed sales were at 25 pecent of market, down from  34 percent  a year ago.

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