In Mortgage Updates

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%
3 Oakland, CA 30% 31%
4 San Diego, CA 33% 44%
5 Orange County, CA 41% 45%
6 Seattle, WA 42% 45%
7 Sacramento, CA 42% 45%
8 Los Angeles, CA 43% 45%
9 Ventura County, CA 43% 50%
10 Salt Lake City, UT 45% 51%

Source: Trulia

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.

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