Tomorrow’s release of January existing-home sales will reveal the first clues to how the housing market is holding up in 2016 amidst the global uncertainty and stock market volatility that has reared its ugly head in recent months.
In addition to the headline figures of existing sales and prices, additional data on first-time buyers, sales to investors and more will also be reported (like every month). This data comes directly from the Realtors® Confidence Index (RCI), NAR’s monthly survey of over 3,000 responses from its members on local market conditions.
Before getting our first read of the market tomorrow, here’s a look back at the annual averages of the reported RCI figures in 2015:
2015: 30 percent (29 percent in 2014)
Sales to investors
2015: 14 percent (16 percent in 2014)
2015: 24 percent (29 percent in 2014)
2015: 9 percent (12 percent in 2014)
Median days on market
2015: 50 days (56 days in 2014)
Copyright NATIONAL ASSOCIATION OF REALTORS®. Reprinted with permission.