National Association of Realtors
Home sellers are having a far easier time attracting buyers this year and as a result, sellers’ asking prices are on the rise, according to two reports released Wednesday. The National Association of Realtors reported on the median amount of time homes were listed for sale, a number that fell to 69 days for sales that closed in July, down from 98 days a year earlier. And a good portion of the market is selling faster: A third of homes sold in July were on the market for less than a month, the group said.
With buyers acting more quickly, sellers have been able to boost their listing prices. Asking prices were up by 2.3% in August compared with the same month last year, according to real-estate website Trulia. It was the seventh straight month in which sellers hiked their asking prices, and 68 out of the 100 largest U.S. metropolitan areas reported asking price increases. Not including foreclosed properties, asking prices were up 3.8% from a year earlier, Trulia said. The economist.