Published On: Mon, Jun 21st, 2021
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Time on Market for Typical US Home Drops to Just 6 Days: Report

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A new report from real estate listing firm Zillow shows that, while the for-sale housing inventory ticked up slightly in May after falling for nine months straight, the typical time of a home on the market fell to just six days and prices hit record highs. “May brought a long-awaited bump in inventory nationwide, though it did little to immediately cool record-high home value appreciation,” according to the May 2021 Zillow Market Report. Housing stock rose 3.9 percent in May from April, the first such rise since July 2020, although inventory nationwide remains down 31.2 percent from a year ago, the report says. “While the seasonal boost in inventory is a welcome sign that the ongoing inventory crunch may finally be starting to ease, it will take a while for the gains to immediately make an impact on a red-hot housing market in which demand for homes far exceeds the …

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