The National Association of REALTORS®  publishes a monthlyREALTORS® Confidence Index (RCI) survey.

The 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.In the month of July, here are some excerpts from the RCI survey:

· On average, a home sold had more than 4 offers, slightly lower than the average of 5 offers in last month’s survey.

· With limited supply in the market, homes typically sold within 17 days (24 days one year ago), as buyer competition continues. 

· The share of first-time buyers remains unchanged in June at 31% (31% in the prior month, 35% 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 decreased to 71% (77% 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 (84% one year ago).

· REALTORS® expect home prices in the next three months to increase nearly 4% from one year ago compared to 5% outlook in last month’s survey. 

· Respondents expectsales in the next three months to increase nearly 1% from last year’s sales level compared to the 2% outlook in last month’s survey. 

· The REALTORS® Buyer Traffic Index decreased from 77 in May 2021 to 71 (moderately strong conditions) in June 2021 while the REALTORS® Seller Traffic Index remains below 50 which is “weak” traffic compared to the level one year ago.

Lauren Bunting is a Broker with Keller Williams Realty of Delmarva in Ocean City, Maryland.