One of the reasons that housing sales are down this year from the same period a year ago is the very limited inventory of housing available for sale. Each month, Realtor.com reports listing inventory and changes from the previous month and prior year, the median days on the market and median list price.
Many locales have very few current listings, and the ones that do have fall under contract in a matter of days or weeks. Nationwide, a home is on the market for a median 78 days.
That, however, is not the case is some western U.S. cities. Realtor.com reported the 10 markets with the fewest days on the market in May 2014:
To read the entire release click http://realtormag.realtor.org/daily-news/2014/07/07/recovery-broadens-more-markets-see-price-increases.
To see all of the data from the May 2014 realtor.com report click: http://www.realtor.com/data-portal/realestatestatistics
It’s hard to sell homes that are essentially out-of-stock.