Days On Market Drops In April
The National Association of Realtors (NAR) recently released data showing the median number of days a property spent on the market for sale reached a new low of twenty-six days in April, as 57% of homes were on the market for less than 30 days.
Lawrence Yun, NAR's Chief Economist was quoted saying:
"What is available for sale is going under contract at a rapid pace. Since NAR began tracking this data in May 2011, the median days a listing was on the market was at an all-time low in April, and the share of homes sold in less than a month was at an all-time high."
Strong demand from homebuyers, a soaring economy, and a low supply of inventory of new and existing homes and condos for sale created the perfect…