Homes’ Days-on-Market Remain Low in November

Following a post-summer slowdown in the market, homebuyers across the nation put a little more force on the accelerator in November.
According to Redfin’s most recent Real-Time Fastest Markets report, 27.2 percent of homes in 23 metros all over the United States went under contract within two
weeks of listing in November, up slightly from 26.9 percent in October and more considerably from 23.4 percent in November 2012.
“Although homebuyers remain frustrated with the number of desirable homes available for sale, they are ready to move quickly when they find a home they like,” said Ellen Haberle, an analyst for the Seattle-based online brokerage.
Overall, San Jose set the pace for the rest of the country, with 48.6 percent of listings going under contract within 14 days.
At the other end, Philadelphia was November’s slowest market; only 6.7 percent of homes in the area were snapped up within two weeks.
While the number of homes selling within two weeks was slightly up, Redfin also reported an increase in the median number of days a home spent on the market—from 31 days in October to 34 in November.

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