If the housing market were a party, you’d walk through a lot of quiet rooms. Then hit one where you can’t even get through the door.
That’s what the latest data is showing.
In March, the typical home sat on the market for 56 days. But the homes that actually went under contract? Just 19 days. That 37-day gap is the widest for any March since 2020—and a sharp jump from just nine days in 2022, when buyers were still rushing in.
What changed isn’t demand. It’s behavior.
Buyers today are cautious. High mortgage rates, elevated home prices, and rising costs—especially around renovations and insurance—have raised the bar. About 34% of homes on the market need repairs, and many sellers still want peak-market pricing. Those homes are sitting.
But the right homes are moving.
Move-in-ready, well-priced properties are still attracting offers quickly. In some markets, like Tampa, 16% of homes went under contract within a week, and nearly a third of those sold above asking.
In parts of the Midwest and Northeast, where new construction is limited, the lack of supply is pushing desirable homes through even faster. The result is a split market: selective demand, not absent demand.
The market hasn’t disappeared—it’s discriminating. Deliver a finished, well-priced product, and it moves. Miss on either, and it sits.
Read the full article: In a Slow Market, Some Houses Are Still Selling Fast
