The National Association of Realtors (NAR) released the results of their latest Existing Home Sales...
“Home sales in recent months remain at their lowest level of the year and are unable to break through, despite considerable buyer interest in most parts of the country.
Realtors® this fall continue to say the primary impediments stifling sales growth are the same as they have been all year: not enough listings – especially at the lower end of the market – and fast-rising prices that are straining the budgets of prospective buyers.” (emphasis added)
The houses that are on the market are selling fast, too! According to NAR’sRealtors Confidence Index, the median number of days it took for a house to go from listed to under contract over the past three months was 34.