U.S. Home Sales Slow Down as Market Conditions Shift
Home sales across the United States are taking longer than in previous years, with significant variations in market conditions across different cities. According to Offerpad's analysis of MLS data, the average time to sell a single-family home has increased, with cities like San Antonio experiencing over 100 days on the market. Factors contributing to this slowdown include elevated mortgage rates and affordability pressures, which have thinned the pool of qualified buyers. Despite longer selling times, some markets have seen median prices increase, indicating a complex housing environment.