Homes are selling at the slowest summer pace in a decade, according to Redfin https://t.co/33tpdGi2G8
The typical home sat on the market for 43 days in July, the longest timeframe in the past decade for what is supposed to be a busy homeselling month. Not every market is feeling the chill, and these maps we created using data from @Redfin highlight the trends. 1/ https://t.co/cVGA9mCBVA
The average US home sold in July spent 43 days on the market, the longest since 2015. https://t.co/ebGhe6gYWD https://t.co/FXADWqyum0
U.S. homes are changing hands at the slowest summer pace in a decade, according to a new report from real-estate brokerage Redfin. The firm said the typical property sold in July spent 43 days on the market, the longest interval for the month since 2015 and a sharp contrast with the brisk turnover that usually characterizes the peak selling season. The figures underscore a cooling in demand after the pandemic-era boom, as buyers pull back in the face of stretched affordability and elevated borrowing costs. While the slowdown is nationwide, Redfin noted that market conditions vary by metro area, with some regions continuing to record comparatively quick sales.