The days on the market is an important indicator in the housing market. When this number is close to or even lower than the teen level, it is an indication that the housing market is in difficulty. The days on the market is a gauge used to measure the speed of the housing market – the lower number of days a property remains on the market, the faster the market for that particular asset.
This situation can have negative impacts on not just the individual seller but the housing market as a whole. A low number of days on the market points to a lack of buyers which could indicate a less favorable market for sellers, forcing them to settle for lower prices. In turn, this can lead to stagnation as buyers hesitate to enter the market, which can ultimately have ripple effects on the housing industry as a whole.
Key Summary Points:
– Days on the market is an important indicator for the housing market
– Low number of days on the market is a sign that the market is in difficulty
– Can impact individual sellers and the market as a whole
– Results could lead to lowered prices and market stagnation
You can read this full article at: https://www.housingwire.com/articles/is-the-savagely-unhealthy-housing-market-back/(subscription required)
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