There are few things more frustrating as a home buyer than losing a home to another buyer. Whether it’s due to a faster offer or a better one, losing your chance at a home you had your eye on can be deflating. That’s why new numbers from the National Association of Realtors may be good for hopeful home shoppers. According to the data, the typical home for sale in January was on the market about a week longer than in December. In fact, the typical property remained on the market 36 days during the month. That’s an improvement over last year at the same time and quite a bit longer than during the frenzied market of 2021. Still, Lawrence Yun, NAR’s chief economist, cautions buyers that the market remains competitive. “The median home price reached an all-time high for the month of January,” Yun said. “Multiple offers are common on mid-priced homes, and many homes were still sold within a month.” (source)
