Homes Selling More Quickly

Online real estate website Zillow reports that homes on its site sold 25.9 percent more quickly in September than they did a year ago. Homes monitored on the site spent a median of 86 days on the market on Zillow in September, representing a 30 day drop from the September 2012 sales rate.

“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,” said Zillow Chief Economist Stan Humphries in a statement. ”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.” Visit Inman News for more info.

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