by Calculated Risk on 5/23/2021 10:41:00 AM
Some interesting information from the REALTORS(R) Confidence Index Survey April 2021
Several metrics indicates a very strong buyer market with short supply. The REALTORS(R) Buyer Traffic Index increased from 79 in March 2021 to 80 (very strong conditions) in April 2021 while the REALTORS(R) Seller Traffic Index remains below 50 which is “weak” traffic compared to the level one year ago. On average, a home sold had five offers. On average, REALTORS(R) expect home prices in the next three months to increase nearly 6% from one year ago and sales in the next three months to increase nearly 3% from last year’s sales level.
With little supply in the market, homes typically sold within 17 days (27 days one year ago), as buyer competition heats up.
The share of first-time buyers decreased to 31% (32% in the prior month, 36% one year ago).
This graph, from the NAR report, shows buyer traffic is strong just about everywhere.