Days on market, the time it takes to sell a home has also declined to 30 days. Although it still holds true that if the home is priced right and with proper marketing most homes are selling within the first 10 days. This basically means there is inventory overpriced, in the higher price range taking much longer to get into contract and sell causing our Days on Market to drop a bit -16.7% year over year. The bottom line is THIS IS STILL THE BEST TIME EVER TO BUY AND SELL! Buyers have great strength with low interest rates and sellers have a tremendous amount of equity and this continues to grow.
All in all you can see a seasonal lull in fewer buyers, less listings and prices suppressing a bit. I would be willing to bet we will se a crazy robust Spring with prices going up even more. This of course provided the financial markets can hold their own as we seem to be stressing the highs everyday and I can’t see how we sustain these all time highs in the stock market.