According to the CoreLogic Economic Outlook for July, 18 percent of homes in the nation’s largest metros sold in less than 30 days, the highest share in 17 years. Also, 23 percent of homes sold for above list price, the highest rate since 2000.
Low unemployment rates, robust consumer confidence, and a rising number of Millennials who are considering homeownership are among the reasons for the sales boom.
These patterns are not uniform across the U.S. but vary depending on the strength of local economies and the demand-and-supply balance across neighborhoods.
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