San Diego homes are sitting on the market this summer
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About 53% of San Diego County home listings have been on the market longer than a month — a 7% increase from last summer, according to a recent Redfin report.
Why it matters: More inventory is growing stale nationally as housing costs stifle shoppers.
Yes, but: Homes in the San Diego metro typically spend 17 days on the market before going under contract, Redfin data shows.
- They're getting scooped up twice as fast as homes across the country.
The big picture: Roughly 65% of U.S. homes for sale in June had been listed for at least 30 days, researchers found.
- 44 of the 50 most populous U.S. metros saw the share of stale listings increase from the previous year.
Reality check: Move in-ready homes in hot neighborhoods are generally still selling quickly and drawing multiple offers, real estate agents say.
The latest: With listings piling up, home sellers are increasingly offering price cuts.