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The REALTORS® Confidence Index (RCI) 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.
Highlights
- First-time buyers represented 27% of buyers, down from 31% in January 2023 and 29% in February 2022
- 28% of buyers had all-cash sales, nearly unchanged from 29% last month and up from 25% in February 2022.
- 57% of respondents reported that properties sold in less than one month. This is up from 54% a month ago and down from 84% in February 2022.
- Due to the lack of housing inventory, the pace of the market, and the use of technology, 7% of buyers purchased a home based only on a virtual tour, showing, or open house without physically seeing the home. This is up from one month and down from one year ago.
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.
