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

• 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).

Source: "REALTORS® Confidence Index"