Days on market" (DOM) is the number of days a listing is active in multiple listing services MLS before it enters into pending status. The chart above showing Long Beach, Belmont height area DOM VS entire MLS. As you see in 2018 homes stay in the market 20-40 days at 90803 zip code.
In general, Consumer spending on home goods and renovations are up, and more people are entering the workforce. Employed people spending money is good for the housing market. Meanwhile, GDP growth was 4.1% in the second quarter, the strongest showing since 2014. Housing starts are down, but that is more reflective of low supply than anything else. With a growing economy, solid lending practices and the potential for improved inventory from new listing and building activity, market balance is more likely than a bubble.
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