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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

• Properties were typically on the market for 27 days (24 days in April 2019).

• First-time buyers accounted for 36 percent of sales (32 percent in April 2019).

• Cash sales made up 15 percent of sales (20 percent in April 2019).

• Among contracts that were terminated, 31 percent were due to "buyer lost job" (twenty-two percent in March 2020), 22 percent were due to "issues related to financing" (23 percent in March 2020), and 41 percent were due to "Other" reasons (47 percent in March 2020). "Other" reasons were mostly related to the coronavirus effect. Only three percent of terminated contracts were due to appraisal issues.

• REALTORS®reported "coronavirus" or "COVID-19" as the major issue affecting transactions in April 2020.