Home Sales Move Faster, Asking Prices Rise

By Alan Zibel
National Association of Realtors
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Home sellers are having a far easier time attracting buyers this year and as a result, sellers’ asking prices are on the rise, according to two reports released Wednesday.

The National Association of Realtors reported on the median amount of time homes were listed for sale, a number that fell to 69 days for sales that closed in July, down from 98 days a year earlier. And a good portion of the market is selling faster: A third of homes sold in July were on the market for less than a month, the group said.

With buyers acting more quickly, sellers have been able to boost their listing prices. Asking prices were up by 2.3% in August compared with the same month last year, according to real-estate website Trulia.

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