More Buyers, Fewer Homes For Sale

Source: Bankrate.com | March 14, 2012

Homebuyers are out there, but they’re finding fewer homes for sale than they were a year ago, according to the latest data from Realtor.com. In February, the number of homes listed for sale rose a meager 0.5 percent from January, but fell 22 percent from the same time last year. The median time a home spent on the market fell nearly 10 percent to 111 days, indicating they’re selling faster. Demand for homes typically ramps up toward spring, when many buyers want to complete the transaction and be settled in by the time school starts. Prices also rose to reflect demand. Of the 146 markets tracked by Realtor.com, 106 of them saw an increase in asking price of 6.8 percent overall since last year. The median asking price of the 1.78 million homes nationwide is $188,000.

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