BiggerPockets Daily Housing's Slowest Summer in a Decade
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Aug 18, 2025 This summer, the housing market is experiencing its slowest activity in a decade, with homes taking an average of 43 days to get under contract. Pending sales have hit a two-year low, while rising prices, up 1.4% year over year, create a paradox. Sellers are retreating, resulting in fewer listings. Dive into metro-level data revealing where sales are sluggish and prices are climbing. Plus, insights on recent shifts in mortgage rates and local trends shape the landscape as summer winds down.
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July Market Pace Hit A 10-Year Low
- The typical home in July took 43 days to go under contract, the slowest July since 2015.
- Pending sales dropped to a two-year low, signaling unusually weak summer activity.
Buyer-Seller Misalignment Is Slowing Sales
- Buyers feel stretched by high mortgage costs and economic unease, so many are holding back from buying.
- Sellers and buyers are misaligned, with sellers pricing high despite rate-driven affordability limits.
Supply Falls Because Sellers Take Homes Off Market
- Active listings were near a five-year high but fell month-over-month as sellers pulled listings off the market.
- Sellers are retreating after seeing neighbors linger or sell below ask, reducing visible supply.