Houston homes are selling under a month, new Zillow study shows
HOUSTON, Texas -- Have the stay-at-home orders convinced you it's time to buy a house, or upgrade to a bigger one? You're not alone - a new report from Zillow shows that Houston homes are flying off the market at their fastest pace in more than two years.
For the week ending June 13, it only took a median of 26 days for a Houston home to go from "available" to "pending." That's three fewer days than the same time last year, as well as nine fewer from the same week in May 2020. To show just how quickly the market is moving, it's even four days less than the week before (ending June 6, 2020).
Inventory is still low thanks to the COVID-19 pandemic, with buyers in May finding themselves competing over the smallest pool of inventory on record for that month in years. But as "the new normal" begins to take hold, it seems that buyers are now eager to make up for lost time with speedy offers.
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