Marco Santarelli
NOVEMBER 30, 2023
This is due to a number of factors, including the city's limited land area and the fact that many homeowners are reluctant to sell their homes in the current market. Days on Market: Understanding the Pace One crucial factor for both buyers and sellers is the median days on the market, which currently stands at 28 days.
Hank Miller Team
JULY 12, 2023
Several West Coast markets tanked for reasons not fully discussed, most are still trying to find solid ground. This region is diverse in employment, continues to grow the film and media industry and is a landing spot for many new college grads. Still a sellers market, just not as bonkers for buyers. Not Greater Atlanta.
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The Close
DECEMBER 27, 2022
Further out, suburban areas begin to lose value as homebuilders continue to overbuild because new construction timelines are longer. Builders are ramping up again, and low land costs allow them to price new homes competitively against the aging existing-home inventory. This will further increase inventory.
HomeLight
APRIL 29, 2021
The number of days on market (DOM), which marks how long a home is on the market before the seller accepts an offer, typically drops. In a balanced market, marketing time typically lasts around six weeks , according to The National Association of Realtors® (NAR). Factors that lead to a seller’s market.
HomeLight
APRIL 21, 2023
They will buy homes, condos, and land in any condition and price, and typically close within seven to 14 days without requiring repairs. So we’re just out of land.” The lack of land and the inability to build new construction has also limited development of additional housing, according to Cane.
Redfin
DECEMBER 27, 2023
Other contributors to the quieter rental market: Strong new construction in the apartment industry, and fewer new households forming (two or more people living together). Supply is calculated in rolling 90-day periods, e.g., January 2023 data is the three-month period from November 1, 2022, through January 31, 2023.
HomeLight
MARCH 31, 2021
With these restrictions, builders prefer to build large luxury homes or residential complexes instead of more affordable multi-family housing that could accommodate more people on the same plot of land. And in extreme cases, communities bent on preserving open land struggle with balancing conservation and demand for housing.
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