Realtors: US homes selling at faster pace

 
LOS ANGELES -- U.S. homes are taking less time to sell than a year ago, reflecting more homebuyer demand and fewer bank-owned homes and other properties available for sale in some markets.

The National Association of Realtors said Wednesday that the median time a previously occupied home was listed for sale shrank in July to 69 days. That's down from 98 days in the same month last year.

One-third of the homes purchased in July were on the market for less than a month, while one in five was on the market for at least six months. A home's median time on the market has been declining steadily since January, the trade group said.

Between 2004 and 2005, the high-flying years of the housing boom, the median selling time of previously occupied homes was four weeks, NA

Read more