Homes Selling Faster as Buyers Outpace Supply
By Julie Schmit, USA TODAY
Multiple offers are becoming common in this fast-moving market.
Homes sold faster last month than in any February since 2007 as eager buyers met a tight supply of homes for sale, industry figures show.
- Median number of days homes spent on market is 25 fewer than a year ago
- Buyers waive home inspections to better compete for homes
- California cities are among fastest-moving markets
Homes were on the market for a median of 98 days last month, down from 123 days in February 2011, according to Realtor.com. That means half the homes listed for sale in February were on the market for less than 98 days and half for more than that.
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