Top Housing Markets Where Homes Sold Fastest
The median home listing in the United States market is spending 49 days on the market as of the first week of October, according to a comprehensive analysis by Realtor.com. This is slightly less than the same period last year, with specific regions experiencing homes selling at a significantly accelerated pace compared to the previous year.
According to Norada real Estate Investments, Realtor.com identified a mix of markets, spanning from the Northeast to the Southwest, where homes are changing hands swiftly. These include both affordable and high-priced markets, such as Buffalo, NY, and Oxnard, CA. Despite affordability challenges affecting demand, a pool of eager homebuyers is actively seeking opportunities despite the low inventory of available homes.
Climbing mortgage rates have stirred concerns among potential buyers and sellers. Despite this, appropriately priced homes in desirable locations continue to sell briskly. The uncertainty surrounding mortgage rates has urged buyers to act swiftly to secure homes and lock in rates before potential increases.
