Does a House Go Bad If It Sits?

Houses are staying on the market longer than ever. No doubt due to the recent activity…or lack there of in the real estate market. The average amount of time that a home stays on the market for both Huntington Beach and Newport Beach is 104 and 120 days respectively. Much longer than that of two years ago. On a recent ABC news report, it was stated that many homes in the greater Los Angeles and Orange County areas have been on the market as long as 500 days. While that may be the exception and not the rule, the fact that it is a moderately occurring event is something to take note of. Being that it is a buyer’s market, people are able to purchase homes that fit their financial situations.

Obviously houses will not spoil or go bad during this period of time, but I would guess that the allure of the home is lost the more it sits. In a way, it becomes the proverbial doggy in the window. Nice to look at, but no one is taking it home, or in this case, moving in.

Home Sales and Demand Trends
The average property in HUNTINGTON BEACH as of February 24 2008 has been on the market for about 104 days.

Home Sales and Demand Trends
The average property in NEWPORT BEACH as of February 24 2008 has been on the market for about 120 days.