Median Days on the Market Down to 62 Days in March

Tight inventory has led to shorter time on the market. The median days on the market fell to 62 days in March (74 in February). Short sales had the longest days on market at 81 days (101 days in February), while foreclosures were on the market for 46 days (52 days in February). The median days on the market for non-distressed properties was 66 days (77 days in February). This based on information in the March REALTORS® Confidence Index (RCI) Survey.

What Does This Mean for REALTORS®?
This is another example of continued housing market recovery and expansion.

Jed Smith, Managing Director, Quantitative Research

Jed Smith is Managing Director, Quantitative Research with the National Association of Realtors®. He has worked on real estate issues for the past 20 years, providing input on a variety of housing, commercial real estate, tax, and planning issues. Recently he has been involved in several international studies.

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