The National Association of Realtors (NAR) recently compiled their August 2019 Realtors Confidence Index Survey. This survey contains information from realtors about local real estate market conditions, characteristics of buyers and sellers, and current issues affecting the market. We browsed the report and pulled the data we found to be most relevant to professional real estate investors.
Market Conditions and Expectations
- Homes were on the market for a median of 31 days
- Mississippi had the highest market time with the median days of homes on the market being 61 to 70 days
- States including New Mexico, California, Maine, Pennsylvania, and Indiana were below the national average and had a median market time of less than 31 days
- 37% of properties were sold at the original price
Characteristics of Buyers and Sellers
- 19% of properties bought were used as investment properties
- An average of 2.3 offers were received on the most recent closed sales
- 44% of sellers were ages 35 to 55
- 19% of all residential buyers paid all cash
Issues Affecting Buyers and Sellers
- 32% of home buyers had issues obtaining financing
- 18% of buyers had appraisal issues
- 16% of buyers had home inspection and environmental issues
- 9% of buyers had title and deed issues
For more insights on the market, check out the NAR's full report. or our blog category "Rental Market Research."