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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The May 2017 report and future reports will include new data series that provide more insights on the characteristics of home buyers and sellers and the homebuying process. We have also changed the report’s format to make it more visually appealing and readable.
Highlights:
- Amid tight supply, properties sold nationally in May 2017 were typically on the market for 27 days (29 days in April 2017; 32 days in May 2016).
- Fifty-five percent of properties were on the market for less than one month when sold, compared to 49 percent a year ago.
- Of all buyers, 33 percent were first-time buyers (34 percent in April 2017; 30 percent in May 2016).
- Sustained job growth, improving incomes, and the aging of the Millennial generation are likely underpinning the continued, albeit modest, increase in first-time buyers.