New numbers from the National Association of Realtors show just how quickly homes are selling these days. Their monthly measure of existing-home sales found that the typical property sold in 21 days in November. In fact, 73 percent of homes sold were on the market for less than a month. Lawrence Yun, NAR’s chief economist, says that the housing market continues to thrive. “Home sales in November took a marginal step back, but sales for all of 2020 are already on pace to surpass last year’s levels,” Yun said. “Given the COVID-19 pandemic, it’s amazing that the housing sector is outperforming expectations.” November sales were down slightly from the previous month but remain 25.8 percent higher than they were last year at the same time. However, while buyer demand remains high, so do prices. Fewer homes available for sale has caused them to spike, with each major region showing double-digit increases from one year ago. (source)
73% Of Homes Sell In Under In A Month
- Horizen Realty
- December 23, 2020
Single Women Are Embracing Homeownership
March 27, 2024
What’s the Latest with Mortgage Rates?
March 26, 2024
What Every Homebuyer Should Know About Closing Costs
March 25, 2024
Get The Latest Updates
Subscribe To Our Weekly Newsletter
No spam, notifications only about new products, updates.
KEEP READING
Related Posts
3 Helpful Tips for First-Time Homebuyers [INFOGRAPHIC]
Trying to buy your first home? If you’re worried about affordability today or the limited number of homes for sale, these tips can help.
What Are Experts Saying About the Spring Housing Market?
If you’re planning to move soon, you might be wondering if there’ll be more homes to choose from, where prices and mortgage rates are headed,
Does It Make Sense To Buy a Home Right Now?
Thinking about buying a home?
Homeowners Today Have Options To Avoid Foreclosure
Even with the latest data coming in, the experts agree there’s no chance of a large-scale foreclosure crisis like the one we saw back in