Key Findings
Tepid spring conditions emerged from the report, with an easing in days on market and an increased share of homes sold above list price, but the market shows a less competitive season than in March 2025.
The Market Outlook from the REALTORS® Confidence Index eased for both buyers and sellers on a monthly and annual basis.
- 26% of respondents expect a year-over-year increase in buyer traffic in the next three months, down from 37% one month ago and from 28% one year ago.
- 27% of respondents expect a year-over-year increase in seller traffic in the next three months, a decline from 31% one month ago, and 30% one year ago.
With supply still limited relative to demand in some housing markets, 18% of homes sold above list price, this is down from last year, when it was 21%, and up from 14% one month ago:
- Homes listed received an average of 2.2 offers, virtually unchanged from 2.3 last month and down slightly from 2.4 one year ago.
- 27% of buyers had all-cash sales, which was down from 31% one month ago and virtually unchanged from 26% one year ago.
- Due to the use of technology, 5% of buyers purchased a home based only on a virtual tour, showing, or open house without physically seeing the home. This is down slightly from 6% from one month ago and 7% one year ago.
Contracts typically closed in 30 days, the same as last month and one year ago. But some faced delays or termination:
- 5% of contracts were terminated in the last three months, essentially flat from 6% one month ago and 6% one year ago.
- 13% of contracts had delayed settlements in the past three months, virtually unchanged from 14% last month, and from 13% one year ago.
- 7% of contracts were delayed due to appraisal issues, unwavering much from 8% one month ago and from 6% one year ago.
First-time buyers represented 32% of buyers, down from 34% last month and flat from 32% one year ago. Among all buyers:
- 18% purchased for non-primary residence use, up from 16% last month and from 15% last year.
- 6% were purchased for vacation use, up slightly from 5% one month ago and from 5% one year ago.
- 3% of sellers sold to an iBuyer, up from less than 1% one month ago and 2% one year ago.
- 2% of sales were distressed, virtually unchanged from 3% one month and from 3% a year ago.
Contract activity shows a reduction in buyers waiving contingencies:
- 18% of buyers waived the inspection contingency, down from 20% one month ago and down from 22% one year ago.
- 19% of buyers waived the appraisal contingency, down from 23% one month ago and flat from 19% one year ago.
Buyers continue to look outside of city centers for the majority of their activity at 83%.
