– Home buying frenzy continuing
– 88% of homes sold in April on market for less Â Â Â Â Â Â Â Â than one month
Buyers Pressured Â by Fierce Competition to Think & Decide Quickly
If prospective homebuyers want to become actual homebuyers, they are requiredÂ to think, decide and act fast.
During April 2021, according to latest data from the National Association of REALTORSÂ® (NAR), 88% of for-sale homes remained on the market for under one month!
NAR Evaluated Pace of April Sales in 250 Largest Metro Areas
NAR researchers analyzed the pace of home sales in 250 of the nationâ€™s largest metro markets in order to determine the fastest and slowest sales pace metros during April 2021.
NAR found that four of the five fastest moving markets were in the West.Â NAR also found that the pace of sales in some parts of the Midwest and Northeast were beginning to pick up the sales pace as well.
Conversely, NAR found that slower selling areas have been among the hardest hit economically by the pandemic. Â George Patiu, senior economist with realtor.com,Â said, â€œâ€¦even a slowdown in these markets comes amid an incredibly frenzied real estate market.â€
Nationally, days on the market averaged 43 days nationwide.
Markets with Fastest Pace of Median Home Sales in April
- Ogden UT â€“ 8 days
- Manchester NH â€“ 10 days
- Colorado Springs CO â€“ 12 days
- Reno NV â€“ 15 days
- Vallejo CA â€“ 15 days
- Columbus OH â€“ 16 da
Markets with Slowest Pace of Median Home Sales in April
- Houma LA â€“ 79 days
- Rochester MN â€“ 78 days
- Miami FL â€“ 72 days
- Jackson MS â€“ 71 days
- Albany NY â€“ 70 days
- Bloomington IL â€“ 70 days
- Hickory NC â€“ 70 days
(For geographic diversity, NAR limited its rankings to one metro per state.)
Thanks to the National Association of REALTORSÂ® and realtor.magazine.
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