In some markets the average time a home stays on the market can be over 123 days- that is- four months or longer. According to USA TODAY, homes in the Atlanta real estate market are selling faster now then they have since February 2007!
California ranks the highest with the number of cities on the Top Ten for fastest moving markets with 8 out of 10. Just under the top ten Atlanta, Washington D.C. and Dallas are just a few places where a house is on the market for just an average of 60 days- that is HALF the length of time from other markets!
Inventory, according to the National Association of Realtors, is at a eight-year low, with just 4.2 months of supply.
Fast moving markets mean more competition. While the race is one to secure your dream house, it is not uncommon to see multiple offers, less price reductions and even buyers who are willing to forgo the home inspection process to make their offer more appealing.