REALTORS® Confidence Index
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The REALTORS® Confidence Index (RCI) survey gathers on-the-ground information from REALTORS® based on their real estate transactions in the month. This report presents key results about market transactions.
- With limited supply in the market, homes typically sold within 17 days (22 days one year ago).
- On average, a home sold had more than 4 offers, for which remains unchanged from last month’s survey. REALTORS® expect home prices in the next three months to increase nearly 2% from one year ago compared to 4% outlook in last month’s survey.
- The share of first-time buyers decreased in July towards 30% (31% in the prior month, 34% one year ago).
- Due to intense competition, the share of cash sales has increased to 23% from one year ago (16% one year ago) and the share of buyers making less than 20% down payment has increased from the prior month to 72% (77% one year ago).
- The pandemic continues to impact how people live and work. A higher share of buyers, at 86%, purchased a property in a suburban, small town, rural, or resort area (85% one year ago).
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.