Here’s a closer look at some housing indicators from NAR's July housing report:
Days on the market: Properties typically remained on the market for 17 days in July, down from 22 days a year ago. Eighty-nine percent of homes sold in July were on the market for less than a month.
First-time buyers: First-time buyers comprised 30% of sales in July, down from 34% in July 2020.
All-cash buyers: All-cash sales accounted for 23% of transactions in July, up from 16% in July 2020. Individual investors or second-home buyers comprise the majority of cash sales.
They purchased 15% of homes in July, unchanged from the 15% seen in July 2020.
89% of homes took less than 30 days to sell
