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 December 2016, 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 15 percent of sales, and cash sales accounted for 21 percent of sales.
- Amid tight supply, half of properties that sold in December 2016 were on the market for 52 days or less compared to 58 days in December 2015 (43 in 2016; 50 in 2015).
- Lack of supply and appraisal-related problems were the main issues reported by REALTORS®.