Pace of US Housing Sales Slows in July

REDFIN HOUSING MARKET REPORTRedfin (www.redfin.com), the technology-powered real estate brokerage, today issued its Fastest Markets Report for July 2013. Home-selling speeds fell for the third month in a row as the market continues to rebalance after an extremely competitive spring season. In today’s report, Redfin also ranks 23 markets across the country ordered by the percentage of homes that went under contract within 14 days of their debut. The metrics include single-family homes, condos, and townhouses listed in the Multiple Listing Service (MLS).

In July, 30 percent of homes went under contract within 14 days, a slowdown from 31 percent in June and 33.4 percent in April. Compared with last year, however, when just 21.2 percent of homes went under contract within two weeks, today’s market is still moving at an extremely fast pace. In July 2011, only 13.0 percent of homes went off the market that quickly.

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