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Editor’s Note: This is the cover story in the August 2020 issue of RISMedia’s Real Estate magazine. Subscribe today.
Pending sales are slowing entering the last summer month, likely due to seasonal trends, according to Zillow’s Weekly Market Report. For the week ending July 25, pending sales were up 16.1 percent year-over-year. Month-over-month, newly pending sales are down 1.4 percent. The markets have sped up—days on market is now 14 days, a day faster than reported the previous week and nine days faster than last year.