According to the upcoming July REALTORS® Confidence Index report (RCI), time on the market when a property is sold has been declining. Approximately a third of REALTORS® noted that recently sold properties were on the market for less than a month when sold, and 59 percent were sold within 3 months. The proportion of REALTORS who responded that the house had been on the market for 6 months or more when sold fell to 21 percent from 30 percent a year ago.
The full July RCI report will be available on August 23, here.
[...] Thirty-Three Percent of Houses Sold in One Month Time Period. [...]
The problem is only the current closed, no property history on how many time the property expired or was withdrawn from the market and repriced. Traditionally more properties are taken off the market than sold.
[...] Thirty-three percent of houses sold in one month time period – This according to the latest REALTORS® Confidence Index report (RCI) – NAR Research [...]
[...] “According to the upcoming July REALTORS® Confidence Index report (RCI), time on the market when a property is sold has been declining. Approximately a third of REALTORS® noted that recently sold properties were on the market for less than a month when sold, and 59 percent were sold within…” To read more, click here: Thirty-Three Percent of Houses Sold in One Month Time Period [...]
I agree with Steve Albin. That is not an accurate refection of the market.