Burns Resale Housing Market Index | John Burns Real Estate Consulting

Burns Real Estate Agent Survey

The Burns Real Estate Agent Survey gauges the pulse of the resale housing market in the US. The Burns Resale Housing Market Index (RHMI) is based on a proprietary monthly survey of real estate agents nationally.

Resale Market Shows Early Signs of Life

January 2023
According to our national survey of ~2,600 resale agents that ran January 5–17, most resale indicators are unchanged or improving slightly from October/ November lows, when mortgage rates surged past 7%.

  • Soft demand backdrop: 58% of agents nationally rate current sales as weaker than normal in December, unchanged from weak sales ratings in November.

  • Soft pricing backdrop: 40% of agents indicate mostly decreasing home prices during December, improving slightly for the second consecutive month.

  • Sellers adding buyer concessions to drive sales: 27% of agents nationally report sellers are paying for home repairs to complete transactions, a reversal from many “as is” sales in 2020–2021.

We expect the resale market to improve seasonally heading into spring but remain well below prior-year levels (sales and pricing), as affordability remains out of reach for too many buyers. For now, any dip in rates or a meaningful price cut can pull a waiting buyer back into the market.

The Latest Burns Real Estate Survey Report is Now Available
Monthly Distribution

Are you a real estate agent or real estate agency interested in participating?

Fill out the form below to learn more about participating in our next survey. Weigh in every month and receive a free social media infographic that you can repost on your platforms to accelerate your business.

Are you an industry executive who wants access to the full report every month?

The Burns Real Estate Survey Report is exclusive to clients who currently subscribe to our research flagship reports. Fill out the form below if you would like to speak to one of our team experts about how you can subscribe to receive full access.

About John Burns Real Estate Consulting

John Burns Real Estate Consulting is an independent research provider and consulting firm focused on the housing industry. John Burns founded the company in 2001 because he saw a need for better analysis on the housing market. The company has grown to a highly passionate team of research analysts and consultants in offices across the country, who work together to provide the most trusted source of US housing analysis. John Burns Real Estate Consulting’s research subscribers receive the most accurate analysis possible to inform their macro investment decisions, and the company’s consulting clients receive specific property and portfolio investment advice designed to maximize profits.

If you have any questions about the Burns Real Estate Agent Survey or if you would like find out how to participate, please contact Nicole Stadick, Research Analyst at surveys@realestateconsulting.com.