STUDY: Houston homes flying off the market in under a month

Suburb (Pixabay)

Homes sold in Houston during the second week of June flew off the market at the fastest pace in over a year, according to a new study conducted by Zillow.

According to the study, homes in the Houston area spent a median of 26 days on the market before ending up in contract -- 3 days less than at the same time last year.

Believe it or not, Houston’s lagging behind the rest of the country.

Nationally, homes that sold during the week ending June 13th had been on the market for just 22 days before going into contract -- the fastest pace since June 2018, according to the Zillow study.

It’s a notable uptick after home sales nationally plunged in April and May amid the emerging COVID-19 pandemic.

According to the study, most of the major metro areas followed the national trend: 29 of the 35 largest metro areas in the country saw an annual drop in days-to-pending for the week ending June 13.

Homes are selling the fastest in Columbus, Ohio (5 days), Cincinnati, Ohio (six days) and Kansas City, Missouri (six days). The slowest-moving housing markets are in New York (70 days), Miami (55 days), and Atlanta (38 days).

In Texas, homes are selling fast in Austin (12 days), on pace with the rest of the country in San Antonio (22 days) and short of the national average in the Dallas-Fort Worth area (28 days).

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