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Homes are fetching more than asking price

High demand for homes for sale mixed with low inventories is prompting bidding wars. Thirty-seven percent of properties that closed in March sold at or above the list price, according to the March 2018 REALTORS Confidence Index Survey. That’s higher than a year ago, when 35 percent of properties sold at or above the list price.

Properties were typically on the market for 30 days in March. REALTORS wrote an average of 2.4 offers per client, according to the report. The two most common problems encountered for contracts that had a delay to settlement were from issues related to obtaining financing and appraisal issues.

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