Days on Market - Average of 54 Metro Areas In January, the 54 metro areas averaged 99 Days on Market, up three days from December and eight days longer than January 2010. The RE/MAX National Housing Report shows that Days on Market has remained over 90 for four months in a row. Days on Market is the average number of days from listing to signed contract.Days on Market - Average of 54 Metro Areas The average Days on Market for sold homes in the surveyed 54 metro areas for February was 103, up from the 99-day average in January and up from the 92-day average in February last year. The RE/MAX Housing Report shows that Days on Market has remained over 90 for five consecutive months. Days on Market is the average number of days from listing to signed contract. Months Supply of Inventory - Average of 54 Metro Areas Inventory levels in the RE/MAX National Housing Report's 54 metro areas were down 2.2% from January to February and down 8.9% from February last year. The Months Supply of Inventory in February was 9.3, which is lower than the 10.1 reported in January, but higher than the 8.8 level seen in February 2010. The Months Supply indicates how many months would be required to clear the homes on the market at the current rate of sales. A balanced market of buyers and sellers is said to be a six-month supply. This is an excerpt from the monthly RE/MAX National Housing Report. For more information, see the full two-page report or contact (303) 796-3667 About the RE/MAX Network: RE/MAX was founded in 1973 by Dave and Gail Liniger, real estate industry visionaries who still lead the Denver-based global franchisor today. RE/MAX is recognized as a leading real estate franchisor with the most productive sales force in the industry and a global reach of more than 80 countries. With a passion for the communities in which its agents live and work, RE/MAX is proud to have raised more than $100 million for Children's Miracle Network Hospitals, Susan G. Komen for the Cure(R) and other charities. Nobody in the world sells more real estate than RE/MAX. Please visit http://www.remax.com or http://www.joinremax.com.
Description The RE/MAX National Housing Report is distributed each month on or about the 15th. The first Report was distributed in August 2008. The Report is based on MLS data in approximately 54 metropolitan areas, includes all residential property types, and is not annualized. For maximum representation, many of the largest metro areas in the country are represented, and an attempt is made to include at least one metro from each state. Metro area definitions include the specific counties established by the U.S. Government's Office of Management and Budget, with some exceptions.Definitions Transactions are the total number of closed residential transactions during the given month. Month's Supply of Inventory is the total number of residential properties listed for sale at the end of the month (active inventory) divided by the number of sales contracts signed (pended) during the month. Where "pended" data is unavailable, this calculation is made using closed transactions. Days on Market is the number of days that pass from the time a property is listed until the property goes under contract for all residential properties sold during the month. Median Sales Price is the median price of all residential properties sold during the month. MLS data is provided by contracted data aggregators, RE/MAX brokerages and regional offices. While MLS data is believed to be accurate, it cannot be guaranteed. MLS data is constantly being updated, making any analysis a snapshot at a particular time. Every month the RE/MAX National Housing Report re-calculates the previous period's data to ensure accuracy over time. All raw data remains the intellectual property of each local MLS organization. ### Read the full story at http://www.prweb.com/releases/2011/3/prweb8217521.htmPRWeb.com