Despite a Contraction in Sales Activity, the Homebuying Market Remains Competitive
It is always good to know where we are with the real estate market, but it is essential to keep all data in a historical perspective. The monthly REALTORS® Confidence Index helps dispel many myths and cut through the noise of what is currently happening in the market.
As reported in the latest NAR Existing-Home Sales data, inventory remains in tight supply, which means homes are still moving at a fast pace despite the recent rise in rates and home prices. The median days on the market is just 14 days. In comparison, in 2011, homes took 96 days to sell. Read more