The Breakneck Pace of U.S. Home Sales

The list-to-sale time in the U.S. is nine days shorter today than it was a year ago, a post-recession low, according to preliminary data from Trulia. 

Trade-up homes are zipping off the market fastest with a median list-to-sale time of 57 days, with starter homes right behind at 59 days. The median list-to-sale time on Trulia has decreased every year since 2010, and is down 53.3 percent overall for that period from 137 days in April of that year to 64 days in April of this year. The last record-low was 71 days, back in July 2017. By region, the fastest-selling homes are in the West, and slowest in the East. 

As of April 2018, the top 10 places where homes are moving the most quickly are all at 45 days or fewer from listing to closing with Seattle, San Francisco, and San Jose, Calif., all tied at 36 days ... Even more striking – a home is already in some phase of contract and likely no longer available to shoppers for some of that time and, in a typical year, homes sold in June have been on the market the shortest amount of time, meaning things are only likely to keep heating up.

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