As home sales pick up, it is clear that a significant number of homes purchased in today’s market are bought by investors looking to generate rental income, according to the National Association of Realtors.
While price trends are important, sellers also need to be aware of how long a property is likely to sit on the market before being bought. The faster that homes sell, the faster an inventory backlog is cleared, suggesting heightened demand and an upward trajectory in prices. Additionally, if a home is on the market for an extended period, it may put off prospective buyers and force sellers to accept less-favorable offers.
The numbers presented in this study are for homes sold between March 2011 and March 2012.