Homes Selling Faster Than Previous Year

Homes Selling Faster Than Previous Year
Nationwide, homes listed for sale on Zillow were selling at a rapid clip, to the tune of a month faster in September than a year ago, according to a new analysis. 

“The declining inventory of for-sale homes over the past year naturally creates pressure for buyers to more quickly snap up the inventory that is on the market. This demand has been fueled by huge resets in home prices since market peak, historically low mortgage rates and a slowly improving broader economic climate,” #Home shoppers in today’s environment need to be prepared to move quickly, with pre-approvals in place and an established sense of what they’re willing to pay for a home,” We do expect that this need for speed will abate in the near-term as mortgage rates rise and more inventory becomes available because of new construction and declining negative equity.” #Mortgage Rates Move HigherAgain See rates.