Have you been thinking about selling your house? If so, here’s some good news. While the housing market isn’t as frenzied as it was during the ‘unicorn’ years ,they are still selling faster than normal.
The graph below uses data from Realtor.com. It tells the story of median days on the market. For Realtor.com, days on the market means from the time a house is listed for sale until its closing date or the date it’s taken off the market. This metric can help give you an idea of just how quickly homes are selling compared to more normal years.
When you look at the most recent data (shown in green), it’s clear homes are selling faster than they usually would (shown in blue). In fact, the only years when houses sold even faster than they are right now were the abnormal ‘unicorn’ years (shown in pink). According to Realtor.com
“Homes spent 69 days on the market, which is three days shorter than last year and more than two weeks shorter than before the COVID-19 pandemic.”
What Does This Mean for You?
Homes are selling faster than the norm for this time of year. Your house may sell quickly too. More people are looking to buy now that mortgage rates have come down. But, there still aren’t enough homes to go around.
Bottom Line
It’s a good time to sell your home. The housing market appears to be stronger than it usually is at this time of year.
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