The National Association of Realtors conducts a Realtors Confidence Index Survey that gathers information from Realtors about local market conditions based on their client interactions.

The December survey had 1,855 respondents and the market outlook from the RCI for buyers and sellers continued to gain positive steam:

• A total of 33% of respondents expect a year-over-year increase in buyer traffic in the next three months, up from 16% one month ago and up from 12 percent one year ago.

• A total of 25% of respondents expect a year-over-year increase in seller traffic in the next three months, up from 12% last month and from 9% one year ago.

With supply still limited relative to demand, 16% of homes sold above list price, down from 19% last month and flat from 16% a year ago:

• A total of 56% of respondents reported that properties sold in less than one month. Down from 62% a month ago and flat from 57% in December 2022.

• Homes listed received an average of 2.4 offers, down slightly from 2.6 offers last month and up slightly from 2.2 offers in December 2022.

Contracts typically closed in 30 days, the same as the figures for last month and one year ago during this time.

But some faced delays or termination:

• A total of 5% of contracts were terminated in the last three months, about the same as one month and flat from one year ago.

• A total of 6% of contracts had delayed settlement due to appraisal issues, down slightly from 7% last month and flat from one year ago.

Contract activity remains competitive:

• A total of 29% of buyers had all-cash sales, up from 27% last month and up slightly from 28% in the last year.

• A total of 24% of buyers waived the inspection contingency, up from 18 percent one month ago and flat from one year ago.

• A total of 15% of buyers waived their appraisal contingencies, down from 19% one month and 18% one year ago.

Lauren Bunting is a Broker with Keller Williams Realty of Delmarva in Ocean City, Maryland.