1 in 2 homes spent at least 60 days on market in February
More than half of home listings in the US spent at least 60 days on the market in February, the highest share for the month since 2019. Weak buyer demand and high home prices are contributing to the trend, with sellers holding firm on their asking prices despite a buyer's market.
In February, over 52% of US home listings remained on the market for 60 days or longer without going under contract. The South has the highest shares of stale listings, with Miami leading at 62.6%. The West Coast has the lowest shares, with San Francisco at 24%. Sellers are holding firm on their prices, but this strategy can raise red flags among buyers. The US housing market had a near-record amount of inventory in February, with an estimated $636.4 billion in total value. Stale listings accounted for around $347 billion of this total.
This content was automatically generated and/or translated by AI. It may contain inaccuracies. Please refer to the original sources for verification.