“Although the U.S. housing market continues to struggle, many local markets are doing significantly better than the country as a whole, with some places virtually missing the housing bust altogether.
While shifts in home values are important in any market, it’s important for sellers to determine the length of time a property can expect to be on the market before it will be sold. The faster that homes sell, the faster an inventory backlog can be cleared, suggesting heightened demand and an upward trajectory in prices. Additionally, if a home is on the market for an extended period of time, it may may turn off prospective buyers and force sellers to accept less-favorable offers.
To find the cities where this trend is the most extreme, real estate website Zillow.com analyzed the numbers to identify the cities where homes sell the fastest, according to the median number of days on the market. The numbers presented here are representative of home sales between mid-April and mid-July 2011.”
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