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Cover of the REALTORS® Confidence Index report

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.

Highlights

  • First-time buyers continue to struggle to enter the market and represent 27% of buyers, down from 28% last month and 31% a year ago.
  • The median days on market was 16, down from 17 days in April 2022 and May 2021.
  • 25% of buyers were all-cash sales, down from 26% last month and 23% in May 2021.
  • Due to the lack of house inventory, the pace of the market, and the use of technology 12% of buyers purchased a home based only on a virtual tour, showing, or open house without physically seeing the home. This is the same as one month ago, and up from 10% a 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.

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