Time On Market Showing Signs Of Improvement
In a competitive market, homes for sale don't last long. A listing can appear mid-week and have multiple offers by the weekend. Because of this, recent home buyers have had to move quickly. There's no time to linger or deliberate when there are other buyers ready to make a move. That can be challenging. But fortunately for summer home shoppers, the housing market's frantic pace may be slowing. In fact, new numbers show homes for sale are starting to spend more time on market. The improvement is small but the trend is moving in the right direction.
According to the data, during the last week of June, homes were selling three days faster than they were last year at the same time. That improved to two days during the first week of July and, by the week ending July 9, it was just one day. In other words, homes are spending a little more time on market than they were even a few weeks ago. Still, buyers need to be prepared. While the trend is positive, homes continue to sell quickly, especially good ones.
Who is FIBT?
First International Bank & Trust (FIBT) is a full-service, family-owned, independent community bank serving a wide range of communities across North Dakota, South Dakota, Minnesota, and Arizona.