Homes Now Typically Sell in a Week, Forcing Buyers to Take Risks

American home buyers are having to pounce faster than ever to clinch a deal, forcing many of them to make snap decisions about what house to purchase and how much to pay.

Home sales between July 2020 and June 2021 sat on the market for a median period of only one week before going under contract, according to a survey released Thursday by the National Association of Realtors. That is down from three weeks a year earlier and marks a record low in data going back to 1989.

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