REALTORS® Confidence Index
The REALTORS® Confidence Index is a key indicator of housing market strength based on a monthly survey sent to over 50,000 real estate practitioners. Practitioners are asked about their expectations for home sales, prices and market conditions. In addition, the "Questions of the Month," feature results of a timely aspect of the housing market.
- Properties stayed on the market longer, typically at two months.
- First-time home buyers continued to account for less than a third of the market.
- REALTORS® continued to report that obtaining financing is a challenge for many buyers and that the loan approval process has become protracted, in many cases exceeding 30 days.
- However, confidence about the outlook for the next six months broadly improved in October compared to the previous month, although still modest compared to a year ago.