Homes Are Taking Longer to Sell

The share of homes listed for 30 days or longer increased 12.5 percent in July compared to a year earlier, with 61.2 percent of homes now sitting on the market for a month or longer, according to a report released Tuesday by Redfin.

The annual increase in stale listings is the biggest since April 2020, when the housing market temporarily ground to a halt at the onset of the coronavirus pandemic. It’s also one of the largest year-over-year decreases since Redfin started tracking the data point in 2012, according to the report.