{"id":569334,"date":"2021-06-21T12:37:12","date_gmt":"2021-06-21T16:37:12","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=569334"},"modified":"2021-06-21T12:37:18","modified_gmt":"2021-06-21T16:37:18","slug":"report-average-home-is-staying-on-the-market-for-only-6-days","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/report-average-home-is-staying-on-the-market-for-only-6-days\/","title":{"rendered":"Report: Average Home Is Staying On The Market For Only 6 Days"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Freport-average-home-is-staying-on-the-market-for-only-6-days%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=569334&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/GettyImages-1264127590-1200x800-1.jpg\" class=\"ff-og-image-inserted\"  style=\"display:none\"><\/div>\n<p><span>A report from real estate company Zillow reveals that the average American home is only staying on the market for six days.<\/span><\/p>\n<p><span>The analysis shows that rising rents, for-sale inventory, and higher purchasing prices characterize the American housing market.<\/span><\/p>\n<p><span>As Zillow <\/span><a href=\"https:\/\/www.zillow.com\/research\/zillow-may-2021-market-report-29635\/\"><span>explains<\/span><\/a><span>:<\/span><\/p>\n<blockquote readability=\"9\">\n<p><span>The combination of tight supply and high demand is doing more than just pushing home values up at a record pace \u2014 it is also helping push the amount of time homes spend on the market before selling to record lows. The typical time for a newly listed home to go under contract dropped to just six days nationwide in May, one day shorter than in April.\u00a0<\/span><\/p>\n<\/blockquote>\n<p><span>Some housing markets are especially tight: \u201c<\/span>At just three days, typical time on market is shortest in the hot Midwest metros of Cincinnati, Kansas City and Columbus.\u201d<\/p>\n<p><span>Inventory of homes available for purchase is down by 31.2% from one year ago \u2014 the fourth consecutive month of year-over-year drops in inventory that exceed 30%. Only three cities \u2014 San Jose, San Francisco, and Milwaukee \u2014 saw upticks in inventory.<\/span><\/p>\n<p><span>The month of May brought a \u201clong-awaited bump\u201d in available homes; however, the new offerings \u201cdid little to immediately cool record-high home value appreciation.\u201d The Zillow Home Value Index reveals that as of May, the average American home value has grown year-over-year by 13.2%.<\/span><\/p>\n<p><span>Zillow sees no end in sight to the low-supply, high-demand housing market:<\/span><\/p>\n<blockquote readability=\"19\">\n<p><i><span>The rapid home price appreciation that has marked the past year in housing is not expected to let up any time soon, though affordability concerns and continued low inventory are putting somewhat of a damper on the outlook for sales, according to the latest Zillow home value and sales forecasts.<\/span><\/i><\/p>\n<p><i><span>Zillow economists expect home values to increase 6.1% over the next quarter (May-August), by 17.9% through the end of this year (December 2020-December 2021) and by 14.9% through the twelve months ending in May 2022. The latest forecast is an upward revision from last month, when we predicted 11.4% year-over-year growth in April 2022. This month\u2019s forecast was boosted, in part, by record short-term appreciation of the past few months, which shows virtually no signs of slowing as sky-high demand runs headlong into inadequate supply.\u00a0<\/span><\/i><\/p>\n<\/blockquote>\n<p><span>Larry Summers \u2014 a progressive economist who served in the Obama and Clinton administrations \u2014 recently <\/span><a href=\"https:\/\/www.dailywire.com\/news\/top-democrat-economist-warns-of-biden-inflation-hard-to-put-out-fire-without-doing-a-lot-of-damage\"><span>decried<\/span><\/a><span> the Federal Reserve\u2019s quantitative easing <\/span><a href=\"https:\/\/www.dailywire.com\/news\/sitting-on-a-time-bomb-deutsche-bank-sounds-alarm-warns-of-growing-inflation-in-u-s-economy\"><span>efforts<\/span><\/a><span> for contributing to the distortions in the housing market.<\/span><\/p>\n<p><span>\u201cWe\u2019ve got houses, a housing market in an incredible place,\u201d Summers told PBS\u2019s Margaret Hoover. \u201cFor the first time since they started having these statistics, the majority of houses are selling above their asking price. Why in the face of a housing market on fire should the Fed be intervening in the markets to buy up mortgage-backed securities and subsidized mortgages? Seems like that\u2019s adding gasoline.\u201d<\/span><\/p>\n<p><i><span>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <\/span><\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><i><span>member<\/span><\/i><\/a><i><span>.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A report from real estate company Zillow reveals that the average American home is only staying on the market for six days.The analysis shows that rising rents, for-sale inventory, and &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2280851,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/GettyImages-1264127590-1200x800-1.jpg","fifu_image_alt":"Report: Average Home Is Staying On The Market For Only 6 Days","footnotes":""},"categories":[],"tags":[],"class_list":["post-569334","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/GettyImages-1264127590-1200x800-1.jpg","fifu_image_alt":"Report: Average Home Is Staying On The Market For Only 6 Days","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/569334","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=569334"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/569334\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2280851"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=569334"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=569334"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=569334"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}