Thirty-Seven Percent of Homes Sold in Less than a Month

Multiple bidding in a low inventory environment continues to lead to shorter days on the market. About 37 percent of REALTORS® reported that in March recently sold properties were on the market for less than a month when sold compared to 27 percent in the same month last year. The percentage of REALTORS® reporting that the house sold had been on the market for 6 months or more is down to 20 percent from 28 percent a year ago. This information can be found in the March REALTORS® Confidence Index (RCI) Survey report.

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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