Homes in the US selling at fastest rate in 30 years

November 03, 2017 12:33PM

A lack of inventory across the U.S. is having an historic impact on the length of time homes are lingering on the market. Homes are now selling at their fastest rate in 30 years, according to a report by the National Association of Realtors cited by Bloomberg. Homes were marketed for just three weeks in the year ended in June, the report said, down from four weeks in the year-ago period. It’s the fastest pace since NAR started tracking the metric in 1987. Inventory declined in September, the 28th consecutive month of year-over-year drops in the number of homes for sale. [Bloomberg]