Median Days on the Market Drops to 27!

The National Association of REALTORS® surveyed their members for their monthly Confidence Index. The REALTORS® Confidence Index is a key indicator of housing market strength based on a monthly survey sent to over 50,000 real estate practitioners.

Practitioners are asked about their expectations for home sales, prices and market conditions.

Some Highlights

Homes sold in less than a month in 24 out of 50 states, and Washington D.C.!

Homes typically went under contract in 27 days in May!

Homes in Texas went under contract in less than 31 days in May!

Fifty-five percent of homes were under contract for less than one month when sold, compared to 49% one year ago!

Homebuyers who were renting prior to their recent home purchase accounted for 44% of sales in May!

Sellers who closed a sale in May received nearly three offers!

The median days to close a contract in May was 35 days!

Bottom Line

There are lots of good messages for buyers and sellers in these results. Contact a Real Estate Advisor | REALTOR® from Martin Real Estate Advisors, a United Real Estate Company, at 469-262-5411, or just complete the GET IN TOUCH form on this page, to learn more, and to find out how you can take advantage of the opportunities that exist today in the real estate market.

Content credit to Keeping Current Matters at www.simplifyingthemarket.com.