U.S. homes selling more quickly: report

Homes across the United States are beginning to sell more quickly, according to a report from the National Association of Realtors released Wednesday. The average home transacted within 69 days of being listed last month, a 29.6 percent drop from the same period in 2011. “As inventory has tightened, homes have been selling more quickly,” said Lawrence Yun, chief economist at the National Association of Realtors. That increased sales pace could lead to a median existing home price increase of between 4.5 and 5 percent this year, according to the latest NAR forecast. — Alexander Britell