Business
Redfin Reports The Typical Home Sells in 66 Days—the Slowest Winter Pace in a Decade
SEATTLE, March 19, 2026--U.S. homebuyers are taking their time as spring approaches, which is usually the busiest season for the housing market. The typical home that went under contract in February spent 66 days on the market, according to a new report from Redfin, the real estate brokerage powered by Rocket. That’s the slowest February pace since 2016 and is up from 58 days a year earlier.
About this update from Rocket Companies, Inc.
[{"type":"list","items":[{"val":[{"type":"text","content":"The typical buyer scored 1.8% off the list price—the biggest February discount since 2023; sellers outnumber buyers, giving buyers negotiating power","length":148,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Pending home sales and new listings both inched down last month, while home prices inched up","length":92,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":240,"olType":false},{"type":"text","content":"SEATTLE, March 19, 2026--(BUSINESS WIRE)--U.S. homebuyers are taking their time as spring approaches, which is usually the busiest season for the housing market. The typical home that went under contract in February spent 66 days on the market, according to a new report from Redfin, the real estate brokerage powered by Rocket. That’s the slowest February pace since 2016 and is up from 58 days a year earlier.","length":411,"tagName":"p"},{"type":"text","content":""House hunters have been waiting for mortgage rates to drop, and they finally fell below 6% a couple of weeks ago, which was great. One of our agents had a client lock in a 5.6% rate," said Redfin Senior Economist Asad Khan. "But then rates bounced back. The war in Iran, skyrocketing gas prices and other economic jitters are making homebuyers nervous."","length":374,"tagName":"p"},{"type":"text","content":"Economic uncertainty isn’t the only factor causing homebuyers to slow their roll. It’s a buyer’s market, with sellers outnumbering buyers by more than 40%. That means the buyers who are in the market have negotiating power and can afford to take their time.","length":257,"tagName":"p"},{"type":"text","content":"The typical homebuyer in February paid 1.8% less than the final list price, the largest discount for this time of year since 2023. The median home sale price was $429,259, up 0.9% from a year earlier. While home prices continue to grow, this growth pales in comparison to the double-digit gains during the pandemic homebuying frenzy.","length":333,"tagName":"p"},{"type":"text","content":"Pending Home Sales and Listings Both Ticked Down Last Month","length":59,"tagName":"p"},{"type":"text","content":"Homebuying and selling activity were both muted in February. Pending home sales fell 0.8% month over month on a seasonally adjusted basis, while new listings fell 1.2%.","...