On average, a home sold had five offers.
On average, REALTORS® expect home prices in the next three months to increase more than 5% from one year ago and sales in the next three months to increase nearly 2% from last year’s sales level.
With limited supply in the market, homes typically sold within 17 days (26 days one year ago), as buyer competition continues.
The share of first-time buyers remains unchanged in May at 31% (31% in the prior month, 34% 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 (81% one year ago).
Fifty-eight percent of REALTORS® reported they had potential buyers looking for work-from-home features such as an extra room, a finished basement, or a bigger home.
Note: the REALTOR® Confidence Index is provided by NAR solely for use as a reference. Resale of any part of this data is prohibited without NAR's prior written consent.