Homes Typically Sell in a Week, Forcing Buyers to Take Risks

American home buyers are having to pounce faster than ever to clinch a deal, forcing many of them to make snap decisions about what house to purchase and where to live.

Home sales between July 2020 and June 2021 sat on the market for a median period of only one week before going under contract, according to a survey released Thursday by the National Association of Realtors. That’s down from three weeks a year earlier and marks a record low in data going back to 1989.

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