Homes are spending less time on the market. Forty-five percent of homes sold in May were on the market for less than a month, according to the National Association of REALTORS®. On average, properties in May stayed on the market for 40 days. While that is up from 39 days in April, it still marks the third shortest time since NAR began tracking days on the
market in May 2011.
NAR’s REALTORS® Confidence Index Survey showed that properties were selling in some of the shortest times — within 30 days — in Colorado, the District of Columbia, California, Texas, Oregon, Washington, Idaho, North Dakota, Kansas, and Texas.
Properties were on the market for some of the longest times — more than 90 days — in Maine, New Hampshire, West Virginia, Alabama, Mississippi, and Arkansas.