IE Business Daily Business news for the Inland Empire.
U.S. homes are spending a lot of time on the market before they’re sold.
The average wait-time for a house that sold in January was 64 days, the longest span in six years about one week longer than January 2025, according to a report by Redfin, a Seattle-based real estate brokerage.
Also in January, pending home sale dropped 3.3 percent year-over-year, similar to declines of the past few months. However, there are more sellers than buyers – 47 percent more in December, the most recent numbers available – which gives the typical buyer more leverage than normal.
“House hunters are taking their time, and some would-be buyers are backing off entirely, because the economy remains uncertain and housing costs are high,” the report states. “Many Americans are hesitant to make major purchases while the economy feels uncertain and waves of layoffs hit workers.”
On the positive side, home prices are dropping and affordability is improving. The median monthly mortgage payment during the first month of 2026 was $2,559, down nearly five percent from 2025, and wages were up about four percent, Redfin reported.
