Number of the Day Shows Buyers Snapping Up Homes
Our take on the most relevant or interesting figure in personal finance today
That’s how many days it typically took to sell a home in September—a record low since the National Association of Realtors began tracking the figure in 2011.
The median number of days on the market—a metric that has been as high as 101 in the past—dropped from 22 in August and 32 in September 2019, NAR said in a report released Thursday. Seventy-one percent of homes were on the market for less than a month as home sales jumped 9.4% from August to a seasonally adjusted annual rate of 6.54 million, the highest for any month since 2006.
If you’re one of the many people thinking of taking advantage of this seller’s market, don’t forget to weigh being a buyer right now too. While interest rates are super low, you may not have the same power to negotiate on price.
National Association of Realtors. "Existing-Home Sales Soar 9.4% to 6.5 Million in September." Accessed Oct. 22, 2020.