Housing markets most squeezed by inventory shortages in recent /years are seeing listings come off the market in record time.
The recently released Trulia® Inventory and Price Watch identifies an ongoing trend in the housing market: the more inventory declines, the less time homes spend on the market. Supply kept falling in the second quarter of 2017, down 8.9 percent year-over-year, marking a record nine quarters in a row.
According to Trulia, there is a link between the movement of available inventory and the days homes stay on-market, with fewer homes on the market after two months in areas where supply has dropped significantly in the last five years. ( Per RIS Media 6/29/17)