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
- On average, a home sold had five offers.
- On average, REALTORS® expect home prices in the next three months to increase more than 5% from one year ago and sales in the next three months to increase nearly 2% from last year’s sales level.
- With limited supply in the market, homes typically sold within 17 days (26 days one year ago), as buyer competition continues.
- The share of first-time buyers remains unchanged in May at 31% (31% in the prior month, 34% one year ago).
- The pandemic continues to impact how people live and work. A higher share of buyers, at 87%, purchased a property in a suburban, small town, rural, or resort area (81% one year ago).
- Fifty-eight percent of REALTORS® reported they had potential buyers looking for work-from-home features such as an extra room, a finished basement, or a bigger home.
Source: "REALTORS® Confidence Index"
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