Yesterday I took a look at a very small data set (homes going under contract the week prior) and noticed that new homes were selling very quickly and resale homes were not...

(22) Resale Homes = median of 38 days

As a result, I decided to dig deeper into the data to see if the (somewhat artificially) low days on market for new homes was obscuring a more significant upward shift in median days on market for resale homes.

And... as shown above... the new home data doesn't seem to be obscuring much.

Blue Line = All Homes (new and resale)

Orange Line = Resale Homes

As you can see, these two trends tend to track pretty closely together over time.

As such... disregard any hasty conclusions you or I drew yesterday about resale homes selling much more slowly than new homes.

Yes... there are some resale homes that are taking quite a while to sell... but for the most part, resale homes continue to sell very quickly.