Realtor.com released its inventory data for the month of October 2016, which showed the average number of days a property is on the market before being sold. The top 5 markets where homes sold the fastest were:
- San Francisco-Oakland-Hayward, Calif.: 35 days
- San Jose-Sunnyvale-Santa Clara, Calif.: 37 days
- Seattle-Tacoma-Bellevue, Wash.: 42 days
- Nashville-Davidson-Murfreesboro-Franklin, Tenn.: 43 days
- Denver-Aurora-Lakewood, Colo.: 44 days
Meanwhile, the National Association of Realtors (NAR) revealed that there were 2.02 million homes for sale at the end of October, a 4.3% drop than those listed for sale in October 2015.