NAR Survey Points to Growing Optimism Among Homebuyers and Sellers
New data suggests confidence in the housing market is slowly rebuilding as 2026 moves forward—though caution still defines buyer and seller behavior.
According to a new survey from the National Association of Realtors, sentiment improved in December on both sides of the transaction. More real estate professionals now expect increased buyer and seller activity over the next three months compared with both the prior month and the same time last year. That shift points to cautious optimism as mortgage rates stabilize and price growth continues to cool.
Still, the market remains far from fast-paced. Homes are taking longer to sell, with the median days on market rising to 39 in December, up from 36 in November and 35 a year earlier. Despite that slowdown, competition hasn’t disappeared entirely. Sellers are still receiving an average of 2.2 offers per listing, unchanged from recent months, suggesting steady—but not overheated—demand.
Buyer composition continues to reflect affordability pressures. First-time buyers accounted for just 29% of purchases, slightly lower than a year ago. Cash buyers remained a significant force, making up 28% of transactions, while purchases of non-primary residences held at 18%. Vacation home buying ticked higher to 7%, showing renewed confidence among higher-end buyers.
Looking ahead, agents reported rising expectations for near-term activity. About 31% expect buyer traffic to increase year over year, while 28% expect more seller traffic—both notable improvements from last month. That momentum suggests more households are willing to reengage, even if they’re doing so carefully.
Contract activity remains stable overall. Most deals are still closing within 30 days, termination rates are low, and appraisal-related delays are unchanged. Importantly, buyers are becoming more cautious: fewer are waiving inspection contingencies, reflecting a market where leverage has shifted away from sellers.
One trend remains firmly in place. Roughly 83% of buyer activity continues to occur in suburban and non-urban areas, reinforcing the long-running preference for space, value, and flexibility over proximity to city centers.
The takeaway is balance, not boom. Confidence is improving, but patience is essential. If mortgage rates remain steady and economic conditions hold, this gradual recovery could continue into the spring—marking a housing market that’s moving forward thoughtfully, rather than urgently.
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