Industry News

Real estate listings inventories rising

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Home inventory levels are rising and in many areas it's taking more than 30 days for homes to sell, according to an industry survey released today. However, strong buyer demand, record and near-record monthly sales, continued median home price appreciation, strong job growth and relatively low mortgage rates are fuelling momentum in the nation's housing market, according to HouseHunt's latest market conditions survey. According to the survey, buyers still outnumber sellers at 61 percent and 39 percent, respectively. Other highlights from the third-quarter market conditions survey were: Longer days on the market: Fifty-two percent of respondents said it takes more than 30 days to sell a home from listing to contract. This is up from the second quarter when only 35 percent reported 30 days or more. A year ago, the estimate was about 50-50. Inventory is increasing: Fifty-nine percent of respondents said there is a good supply of unsold homes. This contrasts with 38 percen...