By Diana Olick | CNBC
Anyone out there searching for a new place to live knows there is not much to buy. Total supply and new listings are at record lows, and that means that what is on the market now is selling fast. Really fast.
The average home spent just 61 days on the market, according to a January reading from Realtor.com. That is the fastest pace Realtor.com has recorded since it began tracking the metric in 2016. It’s 10 fewer days than at the rate recorded in January 2021 and 29 fewer than the 2017-20 pace.
Homes sold even faster in several metropolitan markets. In Nashville, the average was just 29 days. In Denver, 35 days. The pace was 38 days in Las Vegas and 39 days in Seattle.
