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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

  • Properties typically stayed on the market for fewer days compared to one year ago, but slightly more days compared to the prior month at 18 days (17 days in the prior month, 21 days one year ago). 82% of properties that closed in October sold in less than one month (86% in the prior month, 72% one year ago).
  • First-time buyers accounted for 29% of the existing-home buyers, a lower fraction compared to one year ago (28% in the prior month, 32% one year ago). First-time buyers continue to struggle competing with cash and non-primary residence buyers.
  • The share of cash sales rose to 24% (23% in the prior month, 19% one year ago). 
  • A higher fraction of buyers purchased property in a suburban, small town, rural area, resort area, at 87% (85% in the prior month, 85% one year ago).
  • Among contracts in the past three months, 24% had a delayed settlement (25% in the prior month, 30% one year ago). Of contracts that had a delayed settlement, 21% of contracts had appraisal issues (25% in the prior month, 21% 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.

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