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REALTORS® Confidence Index

February 22, 2017

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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Highlights

  • In January 2017, first-time homebuyers accounted for 33 percent of sales.
  • Amid solid job creation, the share of first-time homebuyers has been on a modest rise, up from 29 percent in 2014.
  • With fewer new foreclosures, distressed properties accounted for seven percent of sales, purchases for investment purposes made up 15 percent of sales, and cash sales accounted for 23 percent of sales.
  • Amid tight supply, half of properties that sold in January 2017 were on the market for 50 days or less compared to 64 days in January 2016.
  • Lack of supply and appraisal-related problems were the main issues reported by REALTORS®.