Realtor.com says sellers still dominate the real estate but does offer one caveat based on last week’s activity. Home prices continue to rise – median listings were up 10.8 percent annually – the fastest pace in over two years.
The average time on the market for a home is 12 days less than a year ago. Buyers continue to move very fast in an effort to beat out the competition and lick in low mortgage rates.
As to that caveat: last week buyers demand dropped slightly while the number of new listings showed a smaller decline than had been seen recently. Whether this is a trend or a one-time thing remains to be seen.