According to a recent article by NAR, a new measure shows days on market shrinking and for traditional sellers, now in the norms for a balanced market. The median days on market was 69 days in July nationally, down from 98 days in July 2011.
Lawrence Yun, NAR chief economist says the shrinkage was due to a lack in inventory and that homes priced correctly, tend to sell quickly.
Mr. Yun predicts a rise in sales prices 4.5 to 5 percent this year and a 5 percent in 2013.
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