Throwback to 2016 / Low Supply Has Homes Selling Fast

Throwback to 2016, SIX YEARS LATER AND WE ARE STILL IN THE SAME BOAT. BILL

Homes are selling an average of a week faster than they did a year ago, meaning home shoppers should be prepared to move quickly in a competitive housing market, according to the June Zillow® Real Estate Market Reports.

Another indication of dwindling resale inventory is the upswing in residential new construction. We’ve seen a flurry of activity in the new home sector in the past few months. (shopping for a brand new home? We have an exclusive New Construction Search at the bottom of this article, and a New Construction Discount program to help with your closing costs.)

Tight inventory continues to be a major factor for home shoppers. The supply of homes for sale is nearly 5 percent lower than it was a year ago, and 38 percent lower than its peak level in 2011. With fewer available options, home shoppers are moving quickly to buy homes, with the average U.S. home closing after 78 days on the market. ... read full Blog here

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Bill Salvatore / Arizona Elite Properties
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Selling Arizona for more than 19 years

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