Bidding Wars Back for Homes

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Construction Dive Brief:

A slim supply of homes for sale has prompted the comeback of bidding wars and pushed prices higher in housing markets all over the country, according to an analysis by The Wall Street Journal.

In six markets, including four in California, homes are selling fewer than 30 days after their owners list them, found. Homes in Santa Rosa remain on the market for an average of 24 days, turning over 35% quicker than they did a year ago. And the median price of a home there — $570,000, is 9.9% higher than a year ago and 7.9% higher than the national average increase in resale prices over the past year.

Rounding out the six tightest markets are the California cities of San Jose, Vallejo and San Francisco, as well as Seattle and Denver.  Read the rest of the Brief

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