The housing market remains tight and it can be challenging to know how quickly you need to act when you find a home you want. It’s also a good indicator for how first-time homebuyers need to be prepared and advised before house hunting. Trulia recently conducted a two-month study to find out how long homes were listed for sale. They first looked at homes listed in the 100 biggest metro areas in the U.S. on February 5 and then counted how many were still available on April 5. Faster-moving markets had a lower percentage of homes listed after two months, while slower-moving markets had a higher percentage.
So where in America are homes flying off the market?
10 fastest-moving housing markets
|Rank||Metro||Homes still for sale after 2 months April 2015||Homes still for sale after 2 months April 2014|
|1||San Francisco, CA||26%||28%|
|2||San Jose, CA||30%||31%|
|4||San Diego, CA||33%||44%|
|5||Orange County, CA||41%||45%|
|8||Los Angeles, CA||43%||45%|
|9||Ventura County, CA||43%||50%|
|10||Salt Lake City, UT||45%||51%|
Throughout the U.S., 40% of homes moved off the market in the two-month period, a slight increase from 38% during the same time period in 2014. Lower-priced homes in the fast-moving markets sold the quickest, with half still on the market after two months. For first-time homebuyers, this is a key indicator that they need to be prepared and advised prior to house hunting.