This week the National Association of Realtors announced that the average amount of time a home is on the market has gone from 98 days at this time last year to just 69 days. In fact, one third of the houses on entering the market sold in less than a month. The trend reflects increased buyer demand and fewer REOs and other properties for sale in some markets. It also shows that the housing market in general is beginning to turn around since the bubble burst five years ago. Home prices are on the rise, but the market is still trying to strike a delicate balance. Willing sellers are holding back putting their houses on the market for fear of price drops while others owe more than the house is worth. Some bank-owned properties are not on the market yet.
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