First-time buyers remain higher than one year ago but eased from last month.

2026 June RCI cover
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The Market Outlook from the REALTORS® Confidence Index retreated for both buyers and sellers on a monthly basis.

  • 19% of respondents expect a year-over-year increase in buyer traffic in the next three months, a decrease from 20% one month ago, and a gain from 17% one year ago.
  • 20% of respondents expect a year-over-year increase in seller traffic in the next three months, a decrease from 22% one month ago and 23% one year ago.

With supply still limited relative to demand in some housing markets, 21% of homes sold above list price, this is flat from last year when it was 21% and down from 25% one month ago:

  • Homes listed received an average of 2.2 offers, essentially unchanged from 2.2 last month and down slightly from 2.4 one year ago.
  • 25% of buyers had all-cash sales, which was unchanged from 25% one month ago and down from 29% 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 essentially flat from 6% from one month ago and down 8% one year ago.

Contracts typically closed in 30 days, the same as last month and one year ago. But some faced delays or termination:

  • 6% of contracts were terminated in the last three months, flat from 5% one month ago and 6% one year ago.
  • 13% of contracts had delayed settlements in the past three months, flat from 14% last month, and from 12% one year ago.
  • 7% of contracts were delayed due to appraisal issues, a virtually unchanged from 6% one month ago and from 6% one year ago.

First-time buyers represented 33% of buyers, down from 35% last month and up from 30% one year ago. Among all buyers:

  • 13% purchased for non-primary residence use, virtually flat from 14% last month and from 14% last year.
  • 5% were purchased for vacation use, unchanged from 5% one month ago and from 6% 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 1% one month and flat from 3% a year ago.

Contract activity shows a reduction in buyers waiving contingencies reversed course after a dip last month:

  • 20% of buyers waived the inspection contingency, up from 17% one month ago and flat from 20% one year ago.
  • 17% of buyers waived the appraisal contingency, down from 24% one month ago and from 23% one year ago.

Buyers continue to look outside of city centers for the majority of their activity at 86%.