Realtor.com®: Homes Selling at a Brisker Pace This Fall
November 22, 2013
Homes are selling “significantly” faster compared to last year at this time, according to realtors.com®’s National Housing Trend Report for October 2013.
“Instead of the usual seasonal slowdown, October data shows the 2013 fall market moving at a fast pace,” says Errol Samuelson, president of realtor.com®.
The median age of the inventory – viewed as a leading indicator of demand – dropped 11.32 percent in October compared to year ago levels, “demonstrating resilience to seasonal changes and stabilized inventory,” realtor.com® notes.
Nationwide, the median age of inventory was 94 days. In some markets, homes are selling in a fraction of that time. For example, in Oakland, Calif., homes are selling, on average, in 30 days. San Francisco; San Jose, Calif.; Denver, Colo.; and Stockton-Lodi, Calif., all posted 48 days on the market.
Realtor.com® is anticipating the winter months will offer up plenty of opportunity for home buyers too, particularly those who were shut out this summer due to tighter inventories and competition from buyers with all-cash offers, according to realtor.com®’s Winter Home Buyer Report.
Source: “Home Buying Season Isn’t Over,” realtor.com (Nov. 19, 2013)
Updated: February 14, 2020