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New York Post
11-07-2025
- Business
- New York Post
Homes are taking longer to sell in these once-popular markets
Some of the hottest markets in the country are showing signs they might be in trouble as homes linger on the market longer—and those formerly flourishing metros aren't unique by any means. Among the 50 largest U.S. metro areas, 39 saw homes staying longer than last year, according to the June 2025 housing market report. All four regions—the South, Northeast, Midwest, and West—saw increases in time on the market, reflecting broader cooling trends, with the sunnier states seeing the longest slowdowns. Advertisement 4 Nashville, TN, tops the list of metro areas that see the longest time-on-the-market increase year over year. Kevin Ruck – Year over year, homes in the South spent eight more days on average on the market; the West showed seven more days; the Northeast three more days; and only the Midwest was essentially the same with one more day, due to its continued affordability, climate migration, and lack of inventory. And just over half (26) of the top 50 markets are now seeing listings sit longer than their pre-pandemic averages, with almost all of them in the South and West, according to the report. It's another indication of the geographic divergence in housing market conditions. Where is it taking the longest to sell? Advertisement These metros are seeing the longest time-on-the-market increases year over year: Nashville, TN (+20 days) Orlando, FL (+15 days) Miami, FL (+15 days) Advertisement Tucson, AZ (+12 days) It's not shocking that two of the four markets are in Florida, given the Sunshine State's issues with higher condo fees in the wake of the Champlain Towers collapse, skyrocketing insurance costs or the difficulty of procuring it, and the increase in extreme weather events. 'It's just returning to normal, how it was pre-COVID,' Jeff Lichtenstein, CEO of Echo Fine Properties in Miami, tells 'Miami has been in the news lately for slowdowns overall, but it's mostly due to the condo market. Homes are still being sold, albeit at a slower pace.' 4 The Orlando, FL, market is a mismatch between what buyers want and what sellers have, according to real estate expert. Kevin Ruck – Advertisement Another factor has entered the mix: President Donald Trump's crackdown on illegal immigration. 'Deportations and some foreigners feeling unwelcome have stopped foreign purchases from occurring,' Lichtenstein says. 'That has slowed down Miami, which is an international market dependent on South and Central America, Canada, and other countries.' Foreigners who would have previously purchased a property for their Florida college-bound children have also been scared off, he says. However, the agent sees hope on the horizon in the form of New York City's liberal Democratic mayoral candidate Zohran Mamdani. Lichtenstein adds that the election 'has already prompted interest from New Yorkers and businesses to escape more taxes, as a lot of the financial firms in New York City on Wall Street have already relocated to Miami.' 4 Miami is also showing signs of a slowdown of condo purchases on the market, while single-family homes continue to be a hot commodity. Earth Pixel LLC. – Branden Rivero of Prop Hunters in Miami Lakes says that while he clearly sees the slowdown in condos, single-family homes are still a hot commodity. 'There's a huge difference between single-family and condo, complete ends of the spectrum,' he tells 'We still lack quality inventory for the single family. Depending on the area, I still have homes sold before they are even listed.' Advertisement And Jill Penman of ONE/Sotheby's International Realty, who sells in South Florida, says that buyers and sellers are caught in a dance of one having little motivation to sell due to being locked in to their mortgage rates and the other being disinclined to shell out COVID-19-era prices. 'They aren't willing to overpay and will ride it out,' she says of these buyers. As for Orlando, local agent Martin Orefice of Rent to Own Labs says inventory is part of the problem—not necessarily the lack of it, but the mismatch between what buyers want and what sellers have. 4 'I do not think [the slowdown] is a bad thing,' says Jill Penman of ONE/Sotheby's International Realty. Eric – Advertisement 'Most of the homes on the market are big and expensive, and most people looking for homes are younger first-time homebuyers, many of whom work at local theme parks or have recently graduated from UCF or other nearby universities,' he tells 'People just can't afford the homes that are on offer. Even retirees, the other big source of growth for us, are looking to downsize and live near water.' Good news for buyers All in all, agents see the slowdown as an opportunity to separate the wheat from the chaff. In a time when the American dream of owning a home is out of reach for so many, this can only be welcome news to buyers as sellers are forced to let go of their inflated prices. Advertisement 'I do not think [the slowdown] is a bad thing,' Penman says. 'It just weeds out real motivated sellers from the ones that are not serious.' The report aligns with that sentiment. 'With growing inventory and homes taking longer to sell, the U.S. housing market is undoubtedly shifting in a buyer-friendly direction,' the report notes, finding more price reductions in 2025 than in any year of data. However, this signals selective discounts, not widespread plummets. In June, the national median list price held at $440,950, essentially flat since the previous month. However, prices are beginning to fall in the West and South, with -8% and -9% declines, respectively.
Yahoo
17-06-2025
- Business
- Yahoo
Sellers are flooding the home market while buyers sit on their hands in these US cities — creating a historic imbalance
After years of sellers calling the shots, some of the hottest pandemic-era housing markets are now grappling with a surplus of listings — and not enough willing buyers. According to real estate brokerage Redfin, April saw nearly half a million more homes listed than buyers in the market, the largest gap since at least 2013. But this supply surge hasn't translated into a wave of closings. Instead, home sales have stalled in many areas, particularly across the Southeast and Southwest, where inventory has ballooned past pre-pandemic norms. In Miami, for example, there were almost three times as many sellers as buyers in April, Redfin data show. Jeff Lichtenstein, president of Echo Fine Properties in Palm Beach Gardens, Florida, told the Wall Street Journal sellers are increasingly slashing asking prices to entice cautious buyers. 'There will be more price reductions that are going on, and more willingness to sell at a lower number, especially in the next couple months,' he said. 'We've definitely seen people who have taken losses.' These conditions mark a sharp reversal for the Sunbelt, which saw home values soar and bidding wars erupt during the COVID years. Now, many of those same metros — Atlanta, Austin, Phoenix and Tampa among them — are seeing listings linger, as affordability challenges, higher mortgage rates and buyer wariness take hold. Nationally, home prices are still rising, but that growth is cooling. US prices climbed 1.4% in May from a year earlier, according to Intercontinental Exchange, down from 2% annual growth in April. Twenty-four of the 100 largest metro areas posted year-over-year price declines in May, with the bulk of those concentrated in the Sunbelt. 'There's not even usually a home for sale in our neighborhood, and I think there's three or four right now,' Dirk Lovelace, who listed his Tryon, NC, house in April, told the Journal. After relocating to South Carolina, he cut the asking price but still hasn't received an offer. 'The current sentiment is, the market's probably going to go down further, so people are just waiting,' he said. Buyers appear to be in no rush. Home prices have surged more than 50% nationwide over the past five years, and mortgage rates remain elevated above 6.5%. Though active listings in May reached their highest point since 2019, they are still about 14% below typical pre-pandemic levels, according to Still, the gap between buyers and sellers is widening, in part because many homeowners are listing out of necessity rather than opportunity. Some are relocating for jobs, while others are exiting investment properties as costs rise or in anticipation of a price dip. 'It doesn't feel like buyer demand is going to come back that much,' Chen Zhao, Redfin's head of economic research added. 'Prices are just too high.' In markets like Denver, longtime agent Elle Pappas told The Journal the tone of conversations with buyers has shifted dramatically from the frenetic pace of recent years. 'The immediate conversation, even upon the first appointment I have with them, is, 'How much of a discount do you think I can get? How many concessions can I get?'' Carley and Garrett Kapelski, who had previously paused their home search due to competition in the Kansas City suburbs, said they've noticed a shift this spring. 'We feel a lot less stressed this time,' Garrett Kapelski said. 'If we wait another 30, 60 days, maybe you'll see these people that thought they would be able to sell their houses quickly, and maybe already bought another home, start being willing to wiggle a little bit.' Much of the current slowdown can be traced to the uneven recovery in housing supply following the 2006 to 2009 crash, coupled with the lock-in effect of low pandemic-era mortgage rates. But that trend may be easing. New-home construction has picked up since the pandemic, and more homeowners are beginning to list — some simply because they can't wait any longer, whether that is due to job transfers, having children or otherwise, Pappas explained.
Yahoo
17-06-2025
- Business
- Yahoo
Sellers are flooding the home market while buyers sit on their hands in these US cities — creating a historic imbalance
After years of sellers calling the shots, some of the hottest pandemic-era housing markets are now grappling with a surplus of listings — and not enough willing buyers. According to real estate brokerage Redfin, April saw nearly half a million more homes listed than buyers in the market, the largest gap since at least 2013. But this supply surge hasn't translated into a wave of closings. Instead, home sales have stalled in many areas, particularly across the Southeast and Southwest, where inventory has ballooned past pre-pandemic norms. In Miami, for example, there were almost three times as many sellers as buyers in April, Redfin data show. Jeff Lichtenstein, president of Echo Fine Properties in Palm Beach Gardens, Florida, told the Wall Street Journal sellers are increasingly slashing asking prices to entice cautious buyers. 'There will be more price reductions that are going on, and more willingness to sell at a lower number, especially in the next couple months,' he said. 'We've definitely seen people who have taken losses.' These conditions mark a sharp reversal for the Sunbelt, which saw home values soar and bidding wars erupt during the COVID years. Now, many of those same metros — Atlanta, Austin, Phoenix and Tampa among them — are seeing listings linger, as affordability challenges, higher mortgage rates and buyer wariness take hold. Nationally, home prices are still rising, but that growth is cooling. US prices climbed 1.4% in May from a year earlier, according to Intercontinental Exchange, down from 2% annual growth in April. Twenty-four of the 100 largest metro areas posted year-over-year price declines in May, with the bulk of those concentrated in the Sunbelt. 'There's not even usually a home for sale in our neighborhood, and I think there's three or four right now,' Dirk Lovelace, who listed his Tryon, NC, house in April, told the Journal. After relocating to South Carolina, he cut the asking price but still hasn't received an offer. 'The current sentiment is, the market's probably going to go down further, so people are just waiting,' he said. Buyers appear to be in no rush. Home prices have surged more than 50% nationwide over the past five years, and mortgage rates remain elevated above 6.5%. Though active listings in May reached their highest point since 2019, they are still about 14% below typical pre-pandemic levels, according to Still, the gap between buyers and sellers is widening, in part because many homeowners are listing out of necessity rather than opportunity. Some are relocating for jobs, while others are exiting investment properties as costs rise or in anticipation of a price dip. 'It doesn't feel like buyer demand is going to come back that much,' Chen Zhao, Redfin's head of economic research added. 'Prices are just too high.' In markets like Denver, longtime agent Elle Pappas told The Journal the tone of conversations with buyers has shifted dramatically from the frenetic pace of recent years. 'The immediate conversation, even upon the first appointment I have with them, is, 'How much of a discount do you think I can get? How many concessions can I get?'' Carley and Garrett Kapelski, who had previously paused their home search due to competition in the Kansas City suburbs, said they've noticed a shift this spring. 'We feel a lot less stressed this time,' Garrett Kapelski said. 'If we wait another 30, 60 days, maybe you'll see these people that thought they would be able to sell their houses quickly, and maybe already bought another home, start being willing to wiggle a little bit.' Much of the current slowdown can be traced to the uneven recovery in housing supply following the 2006 to 2009 crash, coupled with the lock-in effect of low pandemic-era mortgage rates. But that trend may be easing. New-home construction has picked up since the pandemic, and more homeowners are beginning to list — some simply because they can't wait any longer, whether that is due to job transfers, having children or otherwise, Pappas explained. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
New York Post
16-06-2025
- Business
- New York Post
Sellers are flooding the home market while buyers sit on their hands in these US cities — creating a historic imbalance
After years of sellers calling the shots, some of the hottest pandemic-era housing markets are now grappling with a surplus of listings — and not enough willing buyers. According to real estate brokerage Redfin, April saw nearly half a million more homes listed than buyers in the market, the largest gap since at least 2013. But this supply surge hasn't translated into a wave of closings. Instead, home sales have stalled in many areas, particularly across the Southeast and Southwest, where inventory has ballooned past pre-pandemic norms. Advertisement 6 The US housing market is experiencing a historic imbalance, with nearly 500,000 more sellers than buyers in April — the largest gap since at least 2013, according to Redfin. Cavan – In Miami, for example, there were almost three times as many sellers as buyers in April, Redfin data show. Jeff Lichtenstein, president of Echo Fine Properties in Palm Beach Gardens, Florida, told the Wall Street Journal sellers are increasingly slashing asking prices to entice cautious buyers. Advertisement 'There will be more price reductions that are going on, and more willingness to sell at a lower number, especially in the next couple months,' he said. 'We've definitely seen people who have taken losses.' 6 While the inventory of homes for sale is finally rising, many buyers remain on the sidelines due to high prices, elevated mortgage rates and economic uncertainty. Andy Dean – These conditions mark a sharp reversal for the Sunbelt, which saw home values soar and bidding wars erupt during the COVID years. Now, many of those same metros — Atlanta, Austin, Phoenix and Tampa among them — are seeing listings linger, as affordability challenges, higher mortgage rates and buyer wariness take hold. Advertisement Nationally, home prices are still rising, but that growth is cooling. US prices climbed 1.4% in May from a year earlier, according to Intercontinental Exchange, down from 2% annual growth in April. Twenty-four of the 100 largest metro areas posted year-over-year price declines in May, with the bulk of those concentrated in the Sunbelt. 6 Home prices have surged over 50% in five years, and rates above 6.5% continue to dampen demand. Gian – 'There's not even usually a home for sale in our neighborhood, and I think there's three or four right now,' Dirk Lovelace, who listed his Tryon, NC, house in April, told the Journal. Advertisement After relocating to South Carolina, he cut the asking price but still hasn't received an offer. 'The current sentiment is, the market's probably going to go down further, so people are just waiting,' he said. Buyers appear to be in no rush. Home prices have surged more than 50% nationwide over the past five years, and mortgage rates remain elevated above 6.5%. Though active listings in May reached their highest point since 2019, they are still about 14% below typical pre-pandemic levels, according to Still, the gap between buyers and sellers is widening, in part because many homeowners are listing out of necessity rather than opportunity. 6 Sellers, facing life changes or rising costs, are listing properties and increasingly cutting prices or offering concessions to attract hesitant buyers. Ryan Tishken – Some are relocating for jobs, while others are exiting investment properties as costs rise or in anticipation of a price dip. 'It doesn't feel like buyer demand is going to come back that much,' Chen Zhao, Redfin's head of economic research added. 'Prices are just too high.' In markets like Denver, longtime agent Elle Pappas told The Journal the tone of conversations with buyers has shifted dramatically from the frenetic pace of recent years. Advertisement 'The immediate conversation, even upon the first appointment I have with them, is, 'How much of a discount do you think I can get? How many concessions can I get?'' 6 Despite the increase in supply — now at its highest since 2019 — existing-home sales in April hit their slowest pace for that month since 2009. seanlockephotography – Carley and Garrett Kapelski, who had previously paused their home search due to competition in the Kansas City suburbs, said they've noticed a shift this spring. 'We feel a lot less stressed this time,' Garrett Kapelski said. 'If we wait another 30, 60 days, maybe you'll see these people that thought they would be able to sell their houses quickly, and maybe already bought another home, start being willing to wiggle a little bit.' Advertisement Much of the current slowdown can be traced to the uneven recovery in housing supply following the 2006 to 2009 crash, coupled with the lock-in effect of low pandemic-era mortgage rates. 6 Buyers now hold more negotiating power, especially in Sunbelt markets like Miami, where listings far outnumber house hunters. In contrast, parts of the Northeast and Midwest remain competitive. Gian – But that trend may be easing. New-home construction has picked up since the pandemic, and more homeowners are beginning to list — some simply because they can't wait any longer, whether that is due to job transfers, having children or otherwise, Pappas explained.
Yahoo
19-05-2025
- Business
- Yahoo
5 Best US Coastal Towns To Buy Property in the Next 5 Years, According to Real Estate Agents
Mark Twain famously quipped, 'Buy land, they're not making it anymore.' Nowhere is that more true than waterfront towns in the U.S. It's gotten harder to find good bargains in coastal towns over the last two decades. But charming, overlooked oceanside living still exists — if you look closely enough. Explore More: Check Out: A few even offer more affordable homes than the national average of $367,711, according to Zillow. Here are five U.S. coastal towns you should keep your eye on, according to real estate agents, if you plan on buying property within the next five years. Median home price: $280,631 Coastal towns in South Florida have exploded in popularity over the last 60 years. Jeff Lichtenstein, real estate broker at Echo Fine Properties, has seen that explosion firsthand. 'Much of South Florida is now developed, as growth has shot up from Miami to Boca Raton to Jupiter, and now into the Treasure Coast,' he noted. 'But Fort Pierce has a lot of room for growth and plenty of undeveloped land still available.' In fact, Florida saw so much price growth since the pandemic that it overshot the local fundamentals. Prices in much of Florida have corrected over the last year, and Fort Pierce properties have dipped 3.4%, making this coastal town especially affordable. Try This: Median home price: $318,094 Another low-cost coastal gem, Rockport brags about its ranking in 'The 100 Best Small Art Towns in America' by magazine Americans for the Arts. As a Texas realtor, Levi Rodgers urges buyers to look for up-and-coming beach towns like Rockport. 'Search for operating waterfronts with financed upgrades to infrastructure, changing zoning or proximity to deepwater ports and ferry terminals — these tend to ignite development before the market realizes it,' Rodgers said. He also notes that many waterfront towns start tightening up on Airbnb regulations as they become more popular with tourists. 'When short-term rentals are restricted, long-term values rise as inventory constrains,' Rodgers added. Median home price: $392,721 Lichtenstein also likes Stuart, nestled between Jupiter Island and Port Saint Lucie. 'It's a charming town with a true middle-of-the-country USA feel to it,' he described. 'It retains plenty of mom-and-pop stores and establishments. Right off the Intracoastal and the ocean, there is boating and more reasonable housing compared to some of the southern towns on the east and west coast.' Stuart enjoys a great location, less than an hour from both the bustle of Palm Beach and the quiet of Lake Okeechobee. Median home price: $419,694 Ranked sixth on Vacasa's list of the Best Places to Buy a Vacation Home in 2025, Navarre has a lot to offer. 'It's quiet, it's gorgeous and it hasn't been hit with the same price spikes as other Gulf Coast towns,' explained Jessica Robinson at Family Nest North Central Florida. 'Plus, the rental demand is steady and growing.' Sure enough, short-term rental research platform Rabbu shows an average of $56,324 in annual rental revenue for homes in Navarre. Median home price: $456,027 It looks as though Americans are already starting to discover Port Angeles, where home prices rose by 3.6% over the last year — nearly triple the nationwide average. 'The smartest coastal investments in the next five years won't be in the most obvious locations,' added Rodgers. 'They'll be in places like Port Angeles, Washington.' Beyond the waterfront, the town sits just outside Olympic National Park. Visitors and residents enjoy near-endless hiking and biking trails, glacial lakes like Lake Crescent, and waterfalls such as Marymere Falls. Editor's note: All median home prices are sourced from Zillow. More From GOBankingRates 5 Luxury Cars That Will Have Massive Price Drops in Spring 2025 8 Items To Stock Up on Now in Case of Tariff-Induced Product Shortages Are You Rich or Middle Class? 8 Ways To Tell That Go Beyond Your Paycheck 7 Tax Loopholes the Rich Use To Pay Less and Build More Wealth Sources Zillow, 'United States Housing Market.' Echo Fine Properties, 'John Lichtenstein.' Americans for the Arts, 'The 100 Best Small Art Towns in America.' The Levi Rodgers Real Estate Group, 'COMPANY LEADERSHIP TEAM.' Vacasa, '2025: Top 25 Best Places to Buy a Vacation Home.' Family Nest North Central Florida, 'Estate Planning Services.' Rabbu, 'Navarre, FL Airbnb Market Data.' This article originally appeared on 5 Best US Coastal Towns To Buy Property in the Next 5 Years, According to Real Estate Agents Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
