The Average Home Sold After Just 15 Days Last Year -- Will the Trend Continue?
Housing set a lot of records last year. But one of the most shocking? That'd be the average 15-day selling time most properties saw, according to Redfin.
It's basically unheard of. Just five years ago, it took around 60 days, on average, to sell a house. Now? It's merely a fraction of that.
There are a lot of reasons for this uber-competitive market -- including record-low inventory, surging demand, and a rising share of investor home purchases. Whatever the driver, though, it poses a serious conundrum for buyers, driving up prices and making finding a place -- not to mention affording one -- infinitely more difficult.
Source Fool.com
