Days On The Market Drops To New Low In April

Dated: June 11 2018

Views: 4

via: www.keepingcurrentmatters.com
Days on The Market Drops to New Low in April

According to recently released data from the National Association of Realtors (NAR), the median number of days that a home spent on the market hit a new low of 26 days in April, as 57% of homes were on the market for under a month.

NAR’s Chief Economist, Lawrence Yun, had this to say,

“What is available for sale is going under contract at a rapid pace. Since NAR began tracking this data in May 2011, the median days a listing was on the market was at an all-time low in April, and the share of homes sold in less than a month was at an all-time high.”

Strong buyer demand, a good economy, and a low inventory of new and existing homes for sale created the perfect storm to accelerate the time between listing and signing a contract.

The chart below shows the median days on the market from April 2017 to April 2018:

Days on The Market Drops to New Low in April | Keeping Current Matters

Bottom Line

If you are a homeowner who is debating whether or not to list your home for sale, know that national market conditions are primed for a quick turnaround! Meet with a local real estate agent who can explain to you exactly what’s going on in your area, today!

Blog author image

Michelle Cantrell

Michelle is a native of Southwest Missouri and has twenty-five years of experience in selling real estate in the greater Springfield area! Michelle specializes in all price points, including new const....

Latest Blog Posts

Are Interest Rates Expected to Rise Over the Next Year?

So far this year, mortgage rates continue to hover around 3%, encouraging many hopeful homebuyers to enter the housing market. However, there’s a good chance rates will increase later this

Read More

Turning A House Into A Happy Home

Turning a House into a Happy HomeWe talk a lot about why it makes financial sense to buy a home, but more often than not, we’re drawn to the emotional reasons for homeownership.No

Read More

Steps To Make Your Home Eligible For An FHA Loan

Steps to Make Your Home Eligible For An FHA LoanSeller February 27, 2020Buyers with good credit can purchase homes with a relatively small down payment, lower monthly mortgage, and low-interest

Read More

3 Wonderful Reasons Why The Holidays Are A Good Time To Sell Your House

3 Wonderful Reasons Why The Holidays Are A Good Time To Sell Your HouseSeller December 08, 2020Should you sell your home during the holidays? It may not be the ideal time, but with the

Read More