REALTORS® Confidence Index
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.
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- In February 2017, first-time homebuyers accounted for 32 percent of sales.
- With fewer new foreclosures, distressed properties accounted for seven percent of sales, purchases for investment purposes made up 17 percent of sales, and cash sales accounted for 27 percent of sales.
- Amid tight supply, half of properties that sold in February 2017 were on the market for 45 days or less compared to 59 days in February 2016.
- Lack of supply and appraisal-related problems were the main issues reported by REALTORS®.
- Overall, respondents remained confident about the outlook over the next six months for the single-family homes, townhomes, and condominium markets.