Low Inventory Levels Sells Homes Quick

Posted by Bonnie Martin Designated Broker on Monday, November 5th, 2012 at 7:50am.


realtytimes.com - Low inventory levels are bringing a faster turnaround for today's sellers. From 1987 through 2011, analysis of the NAR Profile of Home Buyers and Sellers series showed the typical time on market was 6.9 weeks, while the existing-home sales series showed an average supply of 7.0 months, just above the high end for a balanced market.

Today's median time for a home to remain on the market is 69 days (July 2012). This is down nearly 30 percent from the 98 days seen in July 2011. The NAR reports that during periods which see close to a 6-month supply, such a now, homes have a median selling time of 6 weeks.

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