Industry News

Survey: Home-buyer, seller demand on equal footing

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The U.S. housing market has reached a balance in buyer and seller demand, according to a survey released Thursday, with 41 percent of participating real estate agents saying they had more buyers and sellers, 40 percent saying they had more sellers than buyers and 19 percent reporting a 50-50 balance. The most notable exceptions are in the Northeast, the Chicago metropolitan area and in the Western states, according to the survey from HouseHunt. Home buyers outnumber sellers by considerable margins in Chicago and the West, while sellers outnumber buyers in the Northeast. The second-quarter national survey also found: Fifty-six percent of member agents said it is now taking, on average, more than 60 days from listing to contract to sell a house. This is up from 55 percent in the first quarter and 35 percent a year ago. Twenty-eight percent said it is taking more than 90 days to contract. Only 15 percent of existing homes are selling in 30 days or less. Housing inventories are con...