The number of homes listed for sale in the largest cities in the country has fallen 20 percent in the past year, according to a report released last week by Realtor.com. While the number of homes on the market has dropped around the country, the average number of days that listed homes have been on the market has remained the same: 107 days.
24/7 Wall St. has identified the 10 cities where homes are on the market for the longest time.
When it comes to the housing crisis, foreclosures and home prices often dominate the headlines. Other information, however, is just as important to a complete understanding of the crisis. Chief among these is the amount of time that homes are on the market and whether the total inventory of available homes has changed. These are better indications of supply and demand than any other data.
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