Overview
- In February, Redfin reports 52.2% of listings sat 60 days or more, worth $347 billion in stale homes.
- Homes that did go under contract took a typical 66 days to find a buyer, the slowest early-year pace in a decade.
- Redfin estimates a record surplus of about 630,000 sellers over buyers, expanding days on market and giving shoppers more room to negotiate.
- Stale stock clusters in Sun Belt metros led by Miami, San Antonio, Pittsburgh, West Palm Beach, and Orlando, while Bay Area markets like San Jose and San Francisco stay tighter.
- Economists link slower demand to higher mortgage rates and war-driven uncertainty, even as late‑March Redfin data shows median days on market dipping below 60 and prices up about 1% year over year.