October 19, 2021
Real Estate

Houses sell in under a week in these 10 cities as real estate market stays ultra competitive

Denver has been one of the fastest-growing cities in the US in recent years (Getty Images/iStockphoto)

Data from real estate brokerage Redfin found that the five-month streak of record-breaking average house prices across the US was broken last week by the beginnings of a recovery in inventory and slowing demand.

This could signal good news for buyers who have struggled to get offers accepted in the face of extreme competition for properties, but that will only be true in some locales. There are still markets in which homes are in extremely high demand.

These cities are identifiable through a separate data set from Redfin, the Compete Score, which measures the number of competing offers on a property; the number of waived contingencies (inspection, financing, etc); how much property sells above the asking price; and the number of days on the market. Cities are ranked out of a top score of…

Read full article here: news.yahoo.com