According to the upcoming July REALTORS® Confidence Index report (RCI), time on the market when a property is sold has been declining. Approximately a third of REALTORS® noted that recently sold properties were on the market for less than a month when sold, and 59 percent were sold within 3 months. The proportion of REALTORS who responded that the house had been on the market for 6 months or more when sold fell to 21 percent from 30 percent a year ago.

The full July RCI report will be available on August 23, here.