10/03/2022
It is always good to know where we are with the real estate market, but it is essential to keep all data in a historical perspective. The monthly REALTORS® Confidence Index helps dispel many myths and cut through the noise of what is currently happening in the market.
The monthly report is released with NAR Existing Home Sales and provides a narrative account of the housing market. Specifically, the reports answer who buyers are, how they make purchases, and where. The report addresses sellers' experience with offers, days on the market, and contingencies.
As reported in the latest NAR Existing Home Sales data, inventory remains in tight supply, which means homes are still moving quickly despite the recent rise in rates and home prices. The median days on the market is just 16 days—however, this is up from 14 days the two past months. In comparison, in 2011, homes took 96 days to sell.
Inventory remains in tight supply, which means homes are still moving at a fast pace despite the recent rise in rates and home prices. Learn more about key market conditions in the latest REALTORS® Confidence Index. http://ow.ly/a1n350KYG5h