Time On Market Increases In September
The supply of available homes for sale is limited. So, when you find one that fits your needs and budget, you generally want to move quickly. After all, there could be other buyers, with similar tastes, who get an offer accepted before yours is even on the table. These days, that's especially true. In many markets, there are fewer homes available for sale than is typical. That means more competition and less time to deliberate before making a decision to buy. But while that's true, new numbers from the National Association of Realtors show the end of the summer season has provided a little breathing room to interested buyers. According to the NAR's existing-home sales report the number of days the typical property remained on the market rose to 32 in September. That's an improvement from August, though no change from year-before levels. Still, while it's an improvement, 32 days isn't all that long. And, considering nearly half of all homes sold in September were on the market for less than a month, prospective home buyers still need to make sure they're prepared and ready to move when they find a house they like. More here.