Listings down, houses sitting

Green Escrow | Real Estate Market News

Another week, another shift in house marketing trends. For the week ending August 13th, houses, on average, remained on the market for an extra five days compared with this time last year. This, of course, is welcome news for buyers as it gives them a bit more breathing room before submitting a bid.

On the reverse side of this, the number of new listings declined by 15 percent from last year, meaning there are fewer homes from which to choose.

Finally, the average 30-year fixed mortgage rate dropped to 5.13 percent from 5.22 percent the week before.