More than a quarter of sellers expect to receive an offer on the first day the home is listed too.

The Center for REALTOR® Development has partnered with Getty Images to build a photo gallery capturing the real estate experience in America.

“Many of the metro areas seeing median list price declines have seen an [influx] of smaller homes come to the market,” says a realtor.com® researcher.

Home buyers likely will have to lose some before they win. On average, half of buyers made two offers before being successful in their purchase with the third try.