There was a time when a home for sale would be listed mid-week and sold before the end of the weekend. Bidding wars were common and competition between buyers was high. Of course, where there are fewer homes for sale, a good listing will still get scooped up quickly by a buyer who’s ready to move. But, overall, the housing market is slower these days and new data proves it. For example, based on a newly released analysis of the market in July, homes took a median of 25 days to go under contract – meaning from the time of listing until the seller had accepted an offer from a qualified buyer. That’s one day longer than it was the month before and five days longer than it was last year at this time. That means more time for buyers to consider their choices and less competition, bidding wars, and stress. And the improvement should continue as the summer sales season begins to wind down, making the coming months a potential opportunity for home shoppers. (source)
