The US is currently a sellers’ market

13 July 2020 | General

Homes in the US are being snatched up quickly, in part due to a lack of stock, Zillow’s Weekly Market Report has found.

Homes sold in the week ending July 4th were typically on the market for 20 days, a week faster than last year.

And they are typically selling after only five days in Kansas City, Cincinnati and Indianapolis.

There is currently a lack of stock, as new-for-sale listings are down 27.2% year-on-year.

With this competition price cuts are fairly rare, with only 4.1% of active listings seeing a price cut, down from 5.6% a year before.

The median list price grew again to $338,760, up 0.5% from the previous week and 4.3% year over year.

This post has originally been featured in Property Wire.