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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.

Note: the REALTOR® Confidence Index is provided by NAR solely for use as a reference. Resale of any part of this data is prohibited without NAR's prior written consent.

Highlights

• First-time buyers accounted for 31 percent of sales (33 percent in May 2017).
• Properties were typically on the market for 26 days (27 days in May 2017).
• Sales of distressed properties (foreclosed or sold as a short sale) accounted for 2.9 percent of sales (5 percent in May 2017).
• REALTORS® report “low inventory”, “interest rates”, and “multiple offers” as the major issues affecting transactions in May 2018.