Industry News

Real estate markets normalize as average time to sell climbs

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According to a recent nationwide survey of real estate professionals, the average length of time for-sale houses spend on the market has increased dramatically in the past six months. Seventy-five percent of respondents said it now takes more than 30 days to sell a house, and of that figure 30 percent said it takes more than 60 days, according to HouseHunt's current market conditions survey. Three months ago, 52 percent of survey respondents said the average time on the market required for a home to sell was more than 30 days, and only 35 percent said it was taking more than 30 days. HouseHunt provides free information to homeowners, buyers and sellers through HouseHunt.com and MoveUp.com. The current market conditions survey is taken quarterly and measures figures such as time on the market between listing and contract, first-time buyer activity, price appreciation and the difference between asking and sale prices. Additional highlights from the fourth-quarter survey were: Home sa...