Realtor.com
The U.S. housing market is showing signs of losing some steam this summer—and the slowdown is especially evident in two regions that experienced construction booms in recent years.
Researchers at Realtor.com® analyzed housing data to identify the major metros that have seen the steepest drops in home sales activity. To do so, experts looked at how many additional days a typical property waited for a buyer in June 2025 compared with the same time last year.
The top 10 metros were then ranked by the largest year-over-year change in median days on market.
Notably, nine of the nation’s 10 most stagnating metros are in the South or West. Topping the list is Nashville, TN, where the typical listing in June lingered unsold for 20 days longer than a year ago, with median days on market climbing to 52.
Miami came in at No. 2, with homes there waiting for a buyer for just over two weeks longer compared with June 2024. Additionally, “Magic City” has earned the dubious distinction of having the highest median days on market among the top 10 metros last month, with the typical home waiting for a buyer for a staggering 83 days.
Nationally, homes spent a median of 53 days on the market last month.
Another Sunshine State entry, Orlando, ranked third, with homes there standing unsold 15 days longer compared with a year prior, reaching a median of 70 days.
Tuscon, AZ, and Jacksonville, FL, each saw a year-over-year slowdown of 12 days, with sellers waiting for a buyer for a median of 57 and 67 days, respectively, in June 2025.
The sole Midwestern metro on the list, Columbus, OH, saw its housing market stagnate by 11 days on an annual basis, as did Las Vegas, Riverside, CA, and Tampa, FL.
Closing out the top 10, Raleigh, NC, experienced an only slightly more modest dip, with homes there lingering for 10 days longer compared with last year.
“This is an all too perfect embodiment of housing market conditions throughout much of the South and, to a lesser extent, the Western U.S.,” says Realtor.com senior economist Jake Krimmel. “Markets with booming prices, sales, and new construction over the pandemic and post-pandemic era are certainly coming back down to earth.”
The May 2025 Monthly Housing Trends Report from Realtor.com detailed how nearly two dozen major markets across the South and West have seen their housing inventories exceed their pre-pandemic norms, while the Midwest and Northeast continued to lag behind.
(Realtor.com)
Why are homes staying unsold?
One major factor for the lingering homes is a spike in construction, according to economists.
Metros like Nashville and Raleigh that built more new homes during and after the pandemic have seen stronger inventory recoveries than places like Boston and New York City, which saw little new construction during the same period.
However, the housing surge has become something of a double-edged sword in recent years. As mortgage interest rates rose and economic uncertainty mounted, buyers grew more reluctant to come off the sidelines, leaving homes in pandemic-era boomtowns to pile up on the market.
Krimmel notes that in many of the most stagnant markets in the South and West, the rate of new listings is also slowing down, meaning the same homes are sitting week after week.
“In short, inventory is getting stale as high rates and list prices weigh on demand,” he concludes.
The 10 Slowest Metro Markets:
1. Nashville, TN
Year-over-year change: +20 days
Median days on market: 52 days
Median list price: $548,450
(Realtor.com)
2. Miami
Year-over-year change: +15 days
Median days on market: 83 days
Median list price: $510,000
(Realtor.com)
3. Orlando, FL
Year-over-year change: +15 days
Median days on market: 70 days
Median list price: $429,473
(Realtor.com)
4. Tucson, AZ
Year-over-year change: +12 days
Median days on market: 57 days
Median list price: $391,500
(Realtor.com)
5. Jacksonville, FL
Year-over-year change: +12 days
Median days on market: 67 days
Median list price: $408,995
(Realtor.com)
6. Columbus, OH
Year-over-year change: +11 days
Median days on market: 68 days
Median list price: $390,000
7. Las Vegas
Year-over-year change: +11 days
Median days on market: 58 days
Median list price: $479,988
(Realtor.com)
8. Riverside, CA
Year-over-year change: +11 days
Median days on market: 36 days
Median list price: $599,995
(Realtor.com)
9. Tampa, FL
Year-over-year change: +11 days
Median days on market: 50 days
Median list price: $419,000
(Realtor.com)
10. Raleigh, NC
Year-over-year change: +10 days
Median days on market: 50 days
Median list price: $462,473
(Realtor.com)