The spring home selling season is heating up with notable markets, particularly on the coasts, seeing rapid home sales. Data from Realtor.com indicates that while homes nationwide average 66 days on the market, some locations, especially in California, are seeing significantly shorter times. San Jose leads with homes selling in just 22 days at around $1.3 million. Strong demand in high-priced markets is driven by affluent buyers. The East Coast's Boston market also features quick sales, attributed to persistent low inventory levels.
"Large coastal markets continue to see homes sell quickly as high-earning home shoppers flock to these business hubs," says Hannah Jones, senior economic research analyst at Realtor.com.
"The East Coast markets have not seen inventory recover to pre-pandemic levels, which keeps market pace snappy," says Jones.
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