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With home inventories limited relative to demand, properties were reported as selling faster for the sixth straight month, typically at 44 days (47 days in May) [1], according to the June 2014 REALTORS® Confidence Index. Short sales were on the market for the longest, at 120 days (125 days in May), and foreclosed properties were on market at 54 days (57 days in May). Non-distressed properties were on the market at 42 days (44 days in May). Conditions varied across areas.
Approximately 42 percent of respondents reported that properties were on the market for less than a month when sold, and about 5 percent were on the market for more than six months.
[1] This is the median days on the market. A median of say 30 days means that half of the properties were on the market for less than 30 days and another half of properties were on the market for more than 30 days.
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