2017 06 Realtors Confidence Index 07-24-2017

June 2017
REALTORS CONFIDENCE INDEX SURVEY
Research Division
NATIONAL ASSOCIATION of REALTORS
June 2017 REALTORS CONFIDENCE INDEX SURVEY

June 2017 Market Conditions and Outlook
Amid sustained job creation and still historically low mortgage rates,
REALTORS reported strong homebuying demand in June 2017.
Properties continued to sell at a brisk pace, and homebuyers faced
higher prices as supply remained low relative to demand.
More REALTORS expect strong than weak market conditions
in the next six months compared to current market conditions.

June 2017 Highlights
June 2017 REALTORS Confidence Index Survey Highlights
Jun-17 May-17 Jun-16
RCI Buyer Traffic Index* 71 74 67
RCI Seller Traffic Index* 47 46 47
RCI Current Conditions: Single-Family Sales* 75 76 74
RCI Six-Month Outlook: Single-Family Sales* 72 76 73
First-Time Home Buyers, as Percent of Sales 32 33 33
Cash Sales, as Percent of Sales 18 22 22
Distressed Sales, as Percent of Sales 4 5 6
Sales for Non-Primary Residence Use, as Percent of Sales** 13 16 13

Median Days on Market 28 27 34
Sold at Original List Price or Premium, as Percent of Sales 40 40 37
Median Expected Price Growth in Next 12 Months (%) 3.4 3.7 3.1
*This is a diffusion index. An index greater than 50 indicates strong conditions and an index less than 50 indicates weak conditions.
**Non-primary residence use refers to the primary use of the property for either vacation or residential rental.

I. Market Conditions and Expectations

Market Conditions Remained Strong
The REALTORS Confidence REALTORS Confidence IndexCurrent Conditions

IndexCurrent Conditions
indices for detached
single-family, townhome,
90
and condominium 80
75
properties were above 50, 70
indicating more 60 62
respondents reported 50 58
40
strong than weak
30
market conditions in June 20
2017 compared to the 10
same month last year 0
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(74 for detached single-
family, 55 for townhome,
and 52 for condominium
in June 2016).
Single-family Townhome Condominium

Buyer Traffic Strong, Seller Traffic Weak
REALTORS Buyer and Seller Traffic Indices

Demand continued to
outpace supply in June
2017. Buyer traffic
80
remained strong while
71
seller traffic remained 70
weak. 60
The REALTORS Buyer 50
47
Traffic Index registered 40
at 71, while the
30
REALTORS Seller Traffic
Index remained below 20
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50. An index below 50
reflects tight supply of
homes for sale.
Buyer Traffic Index Seller Traffic Index

Homebuying Demand Stood Strong
Compared to
conditions in the
same month last year,
buyer traffic
conditions were
stable (no change in
conditions) to very
strong in all states.
*For graphical purposes, index values less than or equal to 25 are labeled Very Weak, values of 25.01 to
45 are labeled Weak, values of 45.01 to 55 are labeled Stable, values of 55.01 to 75 are labeled
Strong, and values greater than 75 are labeled Very Strong.

Inventory Remained Tight
Compared to
conditions in the same
month last year, seller
traffic conditions were
weak in 21 states,
stable in 25 states,
and strong in four
states and the District
of Columbia.
*For graphical purposes, index values less than or equal to 25 are labeled Very Weak, values of
25.01 to 45 are labeled Weak, values of 45.01 to 55 are labeled Stable, values of 55.01 to 75
are labeled Strong, and values greater than 75 are labeled Very Strong.

Days on Market Continued To Fall
Median Days on Market of Sales Reported by

Amid tight supply, REALTOR Respondents
properties were typically
on the market for 250
28 days (27 days in May
200
2017; 34 days in June
2016). 150
102
Fifty-four percent of 100
properties were on the 50

48
market for less than one 28
27
month when sold, 0
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compared to 48 percent
in the same month one
year ago.
All Foreclosed Short sale Non-distressed

Short Median Days on Market
Properties that sold in

AprilJune 2017 were
typically on the
market for less than
31 days in 26 states.
*No estimate for Alaska, North Dakota, and the District of Columbia

Home Prices Continued to Increase
Percentage Distribution of Price Change from a Year Ago

Amid tight supply, Reported by REALTOR Respondents
home prices
continued to increase
90%
in many areas. 80% 74%
Eighty-nine percent of 70%
60%
respondents reported
50%
that home prices 40%
either remained 30%
constant or rose in 20% 15%
June 2017 compared 10%
11%
0%
to one year ago
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(90 percent in May
2017, 88 percent in
June 2016).
Higher Lower Unchanged

Properties Sold Above Listing Price
Percent of Properties Sold at Original Price or at Net

Because conditions are Premium from the Listing Price
competitive for buyers 45%
and supply is tight, offers
continued to be high 40%
40%
relative to asking price.
Forty percent of
35%
properties sold at or
above the original listing
price (40 percent in 30%
May 2017; 37 percent in
June 2016).
25%
20%
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More Clients Took Home Tours
Average Number of Clients Taken on a Home Tour by Agent

On average, REALTOR
6.0
respondents took five
clients on a home tour 5.0
5.0
in June 2017 compared
to just over four clients
one year ago. 4.0
The increase in home

3.0
tours from a year ago is
another indicator of
2.0
strong buyer interest in
the housing market.
1.0
0.0
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Offers Per Client Held Steady
Average Number of Offers Written Per Client Taken on a

On average, REALTOR Home Tour*
respondents wrote
nearly two offers per
client they took on a 3.0
home tour, about the 2.5 2.4

same as one year ago.
2.0
The steadiness in the
1.5
number of offers
written suggests 1.0
buyer clients remain 0.5
motivated.
0.0
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*Regardless of acceptance

Buyers Offer Price Increased
The share of buyers Buyer's Offers Compared to Asking Price

100%
offering at or above the
90%
asking price rose to
80%
54 percent from 53% 53%
46% 46%
54% 56% 57%
27 percent in February 70% 60% 55% 59% 60% 63% 64% 63% 61% 57%
65%
73%
2016 when NAR first 60%
tracked this indicator. 50%
Low supply compared 40% 33% 32%
to high demand likely 28% 28% 27% 29% 29% 27%
30% 30%
accounted for this 23%
26% 28% 27% 26%
26% 26% 28%
20%
trend. 20%
10% 17% 18% 17% 14% 12% 13% 19% 20% 21% 22%
12% 14% 11% 10% 10% 11% 14%
7%
0%
Above Asking Price At AskingPrice Below Asking Price

Home Prices Expected to Increase
REALTOR respondents
expected strong price
growth in Washington,
Idaho, Nevada, Utah, and
Colorado of more than
five percent in the next
12 months.
Respondents expected
prices to remain stable
or increase modestly in
states that are more
reliant on oil production
(e.g., Alaska, North
Dakota, Wyoming,
Oklahoma, Louisiana,
Mississippi, and West
Virginia) and in
Connecticut, Vermont,
and the District of
Columbia.

Strong Markets Expected in Six Months
The REALTORS Confidence
IndexSixMonth Outlook REALTORS Confidence IndexSix-Month Outlook
Current Conditions indices
for detached single-family,
townhome, and 90
condominium properties 80 72
70
were above 50, indicating 60
60
more respondents 50 56
expected conditions to 40
strengthen rather than 30
weaken over the next six 20
10
months compared to
0
current conditions (73 for
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detached single-family,
56 for townhome, and
52 for condominium in
June 2016).
Single-family Townhome Condominium

Very Strong Six-Month Outlook for
Single-Family Homes
Compared to current
conditions, REALTOR
respondents expected
the outlook over the
next six months for
detached single-family
properties to be
stable to very
strong in all states
and the District of
Columbia.
*For graphical purposes, index values less than or equal to 25 are labeled Very Weak, values of
25.01 to 45 are labeled Weak, values of 45.01 to 55 are labeled Stable, values of 55.01 to 75
are labeled Strong, and values greater than 75 are labeled Very Strong.

Mixed Six-Month Outlook for Townhomes
Compared to current
conditions, REALTOR
next six months for
townhome properties
to be weak to very
strong.
Respondents in
Washington, Idaho,
Nevada, Utah,
Colorado, South
Dakota, and Nebraska
expected the outlook
to be very strong.
*For graphical purposes, index values less than or equal to 25 are labeled Very Weak, values of 25.01 to 45 are
labeled Weak, values of 45.01 to 55 are labeled Stable, values of 55.01 to 75 are labeled Strong, and values
greater than 75 are labeled Very Strong.

Mixed Six-Month Outlook for
Condominiums
Compared to current
conditions, REALTOR
next six months for
condominium
properties to be very
weak to very strong.
Respondents in
Washington and
Colorado expected
very strong
outlooks.
*For graphical purposes, index values less than or equal to 25 are labeled Very Weak, values of 25.01
to 45 are labeled Weak, values of 45.01 to 55 are labeled Stable, values of 55.01 to 75 are
labeled Strong, and values greater than 75 are labeled Very Strong.

II. Characteristics of Buyers and Sellers*
* Based on the respondents most recent sale for the month.

Share of First-time Homebuyers Remains
Modest
Of all buyers,
32 percent were first-
First-Time Buyers as Percent of Residential Market
time buyers
(33 percent in May
2017; 33 percent in
60%
June 2016).
50%
Sustained job growth,
improving incomes, 40%
and the aging of the 32%
Millennial generation 30%
are likely underpinning 20%
the sustained, albeit
modest, demand by 10%
first-time buyers. 0%
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NARs 2016 Profile of Home Buyer and Sellers (HBS) reports that among primary residence home buyers, 35 percent were first-time home buyers, up
from 32 percent in 2015. The HBS surveys primary residence home buyers, while the monthly RCI Survey surveys REALTORS and captures purchases
for investment purposes and vacation/second homes. The U.S. Census Bureau defines the Millennial generation as those born in 19822000.

Increased Sales: Buyers 34 Years and
Younger
Age Distribution of Buyers for Sales Reported by
Home sales among REALTOR Respondents
buyers 34 years and
60%
younger have been on 52%
an uptrend. This age 50% 48%
group accounted for 33 40%
percent of sales, up 26% 33%
from 26 percent in July 30%
2013 when the RCI 20% 19%

22%
Survey first asked the 10%
question.*
0%
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Age 34 and under Age 35 to 55 Age 56 and over
*NARs 2016 Profile of Home Buyer and Sellers (HBS) reports that among primary residence home buyers, 28 percent were 18-34 years old.
The HBS surveys primary residence home buyers, while the monthly RCI Survey surveys REALTORS and captures purchases for investment
purposes and vacation/second homes.

Renters: Largest Group of Homebuyers
Homebuyers who Living Status of Homebuyers at Time of Home Purchase

were renting prior to
60%
their recent home
purchase accounted 50%
44% 43%
for the largest share of 40%
41% 41%
homebuyers at 30%
43 percent of sales 20%
(44 percent in May 10%
10% 10%
6%
2017; 46 percent in 0%
5%
June 2016).* 201510
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Rented an apartment or house
Lived in a property that they owned
Lived with parents, relatives, or friends
Other
NARs 2016 Profile of Home Buyer and Sellers (HBS) reports that among primary residence home buyers, 41 percent rented an apartment or house prior to
their home purchase. The HBS surveys primary residence home buyers, while the monthly RCI Survey surveys REALTORS and captures purchases for investment
purposes and vacation/second homes.

Non-Primary Residence Sales Steady with
Last Years Pace
Sales for Non-Primary Residence Use as a Percent of
Thirteen percent of all Residential Sales*
sales were non-primary
residences (residential 19%
rental or vacation use),
the same as one year 17%
ago (16 percent in May 15%

2017; 13 percent in 13% 13%
June 2016).
11%
9%
7%
5%
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*Non-primary residence sales refer to vacation or residential rental use. Respondents are asked to identify the primary use of the property: primary
residence, vacation home, investment as a residential rental unit.

Distressed Property Sales Have Declined
Distressed Sales as Percent of Residential Sales

Distressed sales
accounted for four
percent of sales in June 60%
2017 (five percent in 50%

May 2017; six percent in
40%
June 2016).
With rising home values, 30%
improved economic 20%

conditions, and fewer
10%
foreclosures, the share 1%
3%
of sales of distressed 0%
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properties has generally
declined.
Foreclosed Short sale

Cash Sales Have Declined
Eighteen percent of Cash Sales as Percent of Residential Sales

sales were all-cash
(22 percent in May
40%
2017; 22 percent in
June 2016). 35%
30%
As sales to investors
and distressed 25%
properties have fallen, 20% 18%
the share of cash sales 15%
has declined compared
10%
to 2009-2014 levels.
5%
0%
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Investors Topped List of Cash Buyers
Percent of All-Cash Sales Across Types of Buyer

Buyers of homes for
investment and
vacation purposes, 60% 56%
buyers of distressed 48%
50%
41%
properties, and 40%
international buyers
30% 23%
were more likely to
20%
pay cash than first-time
and relocation 10% 5% 5%
homebuyers. 0%
Investor Vacation Distressed International Relocation First-time
Sale Buyer
*The RCI survey captures only non-U.S. citizens whose permanent residence is in another country (Type A). NAR has a
separate survey on foreign buyers that captures both Type A buyers and non-U.S. citizens who reside in the United
States on work, student, or other types of visas (Type B).

Low Downpayment for First-time Buyers
Percent of Non-Cash Buyers Who Put Down Less Than

Among first-time 20 Percent for Downpayment
homebuyers who 85%
obtained a mortgage
80% 77%
and whose transactions 73%
75%
closed in AprilJune
2017, 73 percent put 70%
down less than 20 65% 58%
percent for 60%
downpayment. 55%
Among all buyers 50% 53%
whose transactions
45%
closed in June 2017,
40%
53 percent put down
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less than 20 percent
for downpayment.
First-time Buyers All Buyers

Fewer First-time Buyers Made Low
Downpayment
Sixty-one percent of
non-cash first-time First-time Buyers Who Put Down Zero to Six Percent
buyers made a zero to Downpayment as a Percent of Non-Cash Buyers
six percent 75% 73%
downpayment, down
from the peak of 73 70%
percent in September
2009 since the RCI
65%
Survey first tracked this
61%
indicator in 2009.
60%
NARs 2016 Q3 HOME
Survey* found that only
13 percent of those 55%
aged 34 or under
believe they need a
50%
downpayment of five
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percent or less.
*Home Opportunities and Market Experience (HOME) Survey

Home Inspection Topped Buyer
Contingency List
Contract Settlement Contingencies as a Percent of
Eighty-nine percent of
Respondents*
agents who worked
with buyers reported 35% 29%
contract contingencies 30%
23% 22%
for their most recent 25%
20%
sale in June 2017. 15%
9%
Passing a home 10% 6% 4%
5% 3% 2%
inspection, obtaining 0%
financing, and having
the right appraisal
were the most
common buyer
contingencies reported
in June 2017.
*Respondents refer to buyers' agents. Multiple responses are allowed.

Sellers: Most Likely 56 Years And Older
Seller's Age
Sellers 65 years old 35%
and older (29 percent)
and 56 to 64 years 30% 29%
(18 percent) 27%
25%
comprised the bulk of
home sellers. 20%
18%
15% 16%
10% 10%
5%
0%
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Age 34 and under Age 35 to 44 Age 45 to 55
Age 56 to 64 Age 65 and over

Sellers Use of Property
Seller's Use of Property

Most sellers used the
property as a primary 100% 1%
6%
0% 1% 1% 2% 1% 1% 1% 1% 1% 1%
7% 7% 7% 8% 9% 8% 7% 7% 5% 7%
residence. 90%
19% 18% 19% 18% 20% 16%
80% 21% 22% 23% 23% 23%
Sixteen percent of 70% 6% 6% 6% 6% 5%
6%
5%
sellers who sold a 60%
6% 6% 6% 6%
property in June 2017 50%

used the property for 40%
69% 68% 67% 69% 68% 70%
investment purpose. 30% 64% 62% 62% 63% 63%
20%
10%
0%
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Primary Vacation Investment Property (Rental) Other* Dont Know*

Most Sellers Vacated Property After
Contract Was Accepted
When Seller Vacated Property
For sales that closed in

June 2017, 48 percent of 100%
6% 6% 5%
Don't Know
2%
sellers vacated the 90% 3% 3%
5% 6%
8% More than 6 Months Before Listing
property between 80% 7%
7% 11%
contract acceptance and 70% 8%

8%
6%
3-6 Months Before Listing
closing. 60%
Twenty-one percent 50% 2 to 3 Months Before Listing
vacated the property 40%

49% 50% 48%
after closing under Within 1 Month Before Listing

30%
leaseback terms.
20%
Between Listing and Contract
Acceptance
10% 18% 20% 21%
0% Between Contract Acceptance and

201704 201705 201706 Closing
After Closing (Leaseback)

Three-Offer Average for Sellers
Average Number of Offers Received on the Most Recent

Sellers who closed a Closed Sale
sale in June 2017 2.8
received nearly three
2.6
offers on average, 2.5
about the same as 2.4
one year ago. 2.2
The number of offers 2.0
tends to increase
1.8
during the spring.
1.6
1.4
1.2
1.0
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Sellers Offered Few Incentives
Seller Incentives Offered

Seventeen percent of
sellers reported
90% 83%
offering incentives.
80%
Warranty, assistance
70%
with closing cost, and
60%
remodeling were the
incentives offered by 50%
sellers on sales that 40%
closed in June 2017. 30%
20%
8% 6%
10% 3%
2%
0%
No incentive Warranty Closing Cost Remodelling Other

III. Issues Affecting Home Buyers and Sellers
* Based on the respondents most recent sale for the month.

Rising Mortgage Rates Have Modest Impact
on Homeowner Decisions
Since December
2016, an increasing, Percent of Respondents Who Reported They Had a Client Who
though modest Decided Not to Move/Sell to Keep Current Mortgage Rate
fraction of
respondents, have 16%
reported they had 14% 14% 14%
a client who 14% 13%
decided not to sell 12% 12%
or move to keep 12%
the existing 10%
mortgage rate. 10%
The 30-year fixed
8%
mortgage rate has
increased to above
four percent since 6%
the week of
November 24, 4%
2016. Rates fell
below four percent 2%
from May 25July 6,
but have climbed 0%
back to above four Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17
percent.*
*Source: Freddie Mac, downloaded from Haver Analytics

Seventy-three
24 percent had a
were terminated.
and three percent
delayed settlement,
percent of contracts
were settled on time,
10%
20%
30%
40%
50%
60%
70%
80%
90%
0%
100%
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Contract was terminated
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Contract was settled on time
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Contract Settlement
Most Contracts Settled on Time
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Contract was delayed but eventually went into settlement
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3%
73%
24%
Closing Times Quickened
Average and Median Days to Close a Sale

The median days to
close a contract was 48
37 days (37 days in 46
May 2017; 41 days in 44
June 2016). 42
40
38
37
36
34
32 32
30
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Average Median

Financing and Appraisals Topped List of
Delays
Problems Encountered for Contracts That Were Delayed in
Issues related to AprilJune 2017*
obtaining financing and 40% 34%
appraisal were the most 35%
30%
23%
common causes of 25% 20%
20%
contract settlement 15%
14%
10%
delays in AprilJune 2017. 10% 6% 5% 2% 2%
5%
0%
*Delayed contracts accounted for 24 percent of closed or terminated contracts during this period.

More Appraisal Delays
Percent of Contracts with Delayed Settlement Which Had

While obtaining Issues Related to Obtaining Financing and Appraisal
financing was still the 50%
top cause of delay, the 45% 40%
issue was cited by 40%
fewer respondents 35% 33%
30%
than when NAR first
25% 24%
tracked this indicator. 20%
By contrast, appraisal 15% 18%
issues were more 10%
common than in 2015. 5%
0%
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201606-201608
201607-201609
201608-201610
201609-201611
201610-201612
201611-201701
201612-201702
201701-201703
201702-201704
201703-201705
201704-201706
Appraisal Issues Issues Related to Obtaining Financing

REALTOR Concern Over Low Inventory
REALTOR respondents
reported conditions of low
inventory, multiple offer,
and shortage, indicating
that tight inventory was the
major issue in June 2017.

About the RCI Survey
The RCI Survey gathers information from REALTORS about local

market conditions based on their client interactions and the
characteristics of their most recent sales for the month.
The June 2017 survey was sent to 75,000 REALTORS who were
selected from NARs nearly 1.2 million members through simple
random sampling and to 5,174 respondents in the previous three
surveys who provided their email addresses.
There were 2,600 respondents to the online survey which ran
from July 211, 2017.The surveys overall margin of error at the 95
percent confidence level is 1.9 percent.* The margin of error for
subgroups will be larger.
NAR weights the responses by a factor that aligns the sample
distribution of responses to the distribution of NAR membership.
*Based on 2,600 respondents out of 1.2 million NAR members and a 50 percent proportion estimate.

Research Division
National Association of REALTORS
RCI Lead Team
Lawrence Yun, Senior Vice President and Chief Economist

Danielle Hale, Managing Director, Housing Research
Gay Cororaton, Research Economist
Meredith Dunn, Research Communications Manager
The RCI Lead Team acknowledges Jessica Lautz, Managing Director,

Survey Research and Communications, Amanda Riggs, Research
Survey Analyst, and Brandi Snowden, Research Survey Analyst, for
their inputs in improving the survey and in editing and disseminating
the report. Karen Belita, Data Scientist, created the visualization of
REALTOR comments. Acknowledgement goes to Lisa Herceg,
Director, Marketing Research, who sends out the survey to
members.
For questions on this report or to purchase the RCI series, please

email: Data@realtors.org

Research Division
National Association of REALTORS
To find out about other products from NARs Research Division, visit:
https://www.nar.realtor/research-and-statistics
Also follow NAR Research on:

https://twitter.com/nar_research
https://www.facebook.com/narresearchgroup
https://www.pinterest.com/narresearch/
https://instagram.com/narresearch/

The National Association of REALTORS, The Voice for Real Estate, is Americas largest trade association,
representing 1.2 million members, including NARs institutes, societies and councils, involved in all aspects of the real
estate industry. NAR membership includes brokers, salespeople, property managers, appraisers, counselors and others
engaged in both residential and commercial real estate.
The term REALTOR is a registered collective membership mark that identifies a real estate professional who is a
member of the National Association of REALTORS and subscribes to its strict Code of Ethics.
Working for Americas property owners, the National Association provides a facility for professional development,
research and exchange of information among its members and to the public and government for the purpose of preserving
the free enterprise system and the right to own real property.
NATIONAL ASSOCIATION OF REALTORS

RESEARCH DIVISION
The Mission of the National Association of REALTORS Research Division is to collect and disseminate timely, accurate
and comprehensive real estate data and to conduct economic analysis in order to inform and engage members,
consumers, and policymakers and the media in a professional and accessible manner.
NATIONAL ASSOCIATION OF REALTORS

Research Division
500 New Jersey Avenue, NW
Washington, DC 20001
202-383-1000
data@realtors.org
2017 National Association of REALTORS

All Rights Reserved.
May not be reprinted in whole or in part without permission of the National Association of REALTORS.
For reprint information, contact data@realtors.org.

June 2017
REALTORS CONFIDENCE INDEX SURVEY
Research Division
NATIONAL ASSOCIATION of REALTORS

2017 06 Realtors Confidence Index 07-24-2017

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June 2017

REALTORS CONFIDENCE INDEX SURVEY

June 2017 REALTORS CONFIDENCE INDEX SURVEY

June 2017 REALTORS CONFIDENCE INDEX SURVEY

Jun-17 May-17 Jun-16

RCI Buyer Traffic Index* 71 74 67

RCI Seller Traffic Index* 47 46 47

RCI Current Conditions: Single-Family Sales* 75 76 74

RCI Six-Month Outlook: Single-Family Sales* 72 76 73

First-Time Home Buyers, as Percent of Sales 32 33 33

Cash Sales, as Percent of Sales 18 22 22

Distressed Sales, as Percent of Sales 4 5 6

Sales for Non-Primary Residence Use, as Percent of Sales** 13 16 13

Sold at Original List Price or Premium, as Percent of Sales 40 40 37

June 2017 REALTORS CONFIDENCE INDEX SURVEY

June 2017 REALTORS CONFIDENCE INDEX SURVEY

The REALTORS Confidence REALTORS Confidence IndexCurrent Conditions

June 2017 REALTORS CONFIDENCE INDEX SURVEY

REALTORS Buyer and Seller Traffic Indices

June 2017 REALTORS CONFIDENCE INDEX SURVEY

June 2017 REALTORS CONFIDENCE INDEX SURVEY

June 2017 REALTORS CONFIDENCE INDEX SURVEY

Median Days on Market of Sales Reported by

properties were on the 50

June 2017 REALTORS CONFIDENCE INDEX SURVEY

Properties that sold in

June 2017 REALTORS CONFIDENCE INDEX SURVEY

Percentage Distribution of Price Change from a Year Ago

June 2017 REALTORS CONFIDENCE INDEX SURVEY

Percent of Properties Sold at Original Price or at Net

Average Number of Clients Taken on a Home Tour by Agent

The increase in home

Average Number of Offers Written Per Client Taken on a

home tour, about the 2.5 2.4

June 2017 REALTORS CONFIDENCE INDEX SURVEY

The share of buyers Buyer's Offers Compared to Asking Price

Above Asking Price At AskingPrice Below Asking Price

June 2017 REALTORS CONFIDENCE INDEX SURVEY

June 2017 REALTORS CONFIDENCE INDEX SURVEY

June 2017 REALTORS CONFIDENCE INDEX SURVEY

June 2017 REALTORS CONFIDENCE INDEX SURVEY

June 2017 REALTORS CONFIDENCE INDEX SURVEY

June 2017 REALTORS CONFIDENCE INDEX SURVEY

* Based on the respondents most recent sale for the month.

June 2017 REALTORS CONFIDENCE INDEX SURVEY

June 2017 REALTORS CONFIDENCE INDEX SURVEY

2013 when the RCI 20% 19%

June 2017 REALTORS CONFIDENCE INDEX SURVEY

Homebuyers who Living Status of Homebuyers at Time of Home Purchase

June 2017 REALTORS CONFIDENCE INDEX SURVEY

ago (16 percent in May 15%

June 2017 REALTORS CONFIDENCE INDEX SURVEY

Distressed Sales as Percent of Residential Sales

2017 (five percent in 50%

improved economic 20%

Foreclosed Short sale

June 2017 REALTORS CONFIDENCE INDEX SURVEY

Eighteen percent of Cash Sales as Percent of Residential Sales

Percent of All-Cash Sales Across Types of Buyer

June 2017 REALTORS CONFIDENCE INDEX SURVEY

Percent of Non-Cash Buyers Who Put Down Less Than

June 2017 REALTORS CONFIDENCE INDEX SURVEY

*Home Opportunities and Market Experience (HOME) Survey

June 2017 REALTORS CONFIDENCE INDEX SURVEY