America’s housing market is increasingly splitting into two different realities: one where desirable homes are snapped up almost immediately, and another where listings linger for weeks.
A Zillow analysis released on Thursday found that 18.5 percent of homes nationwide went under contract within seven days in February 2026. This March, the typical home that sold went pending in 19 days, while the median active listing had already been sitting on the market for 56 days.
That 37-day gap marks the widest divide for any March since 2020, just before the pandemic-era housing boom began, according to Zillow.
In parts of the Midwest and Northeast, where limited new construction has kept supply in check, homes continue to move quickly. Zillow found that at least three in 10 homes sold within a week in Midwest metro areas such as St. Louis, Cincinnati, and Kansas City.
Meanwhile, fewer than one in 10 homes sold that quickly in Sun Belt markets such as Austin, San Antonio, Charlotte, and Jacksonville.
Even in slower markets, however, the most attractive homes can still draw intense competition. In Tampa, Florida, for example, 16 percent of homes that went under contract in February did so within seven days of being listed, according to Zillow. Of those fast-moving homes, nearly one in three sold for more than the asking price.
Nationally, homes that sold quickly were also far more likely to command a premium. Zillow reported that 44.3 percent of properties that went pending within seven days sold above list price in February.
By comparison, only 17.1 percent of all homes sold above asking price. That means homes that moved within a week were 2.6 times more likely to close above list, a figure Zillow said was the second-highest multiple in its records dating back to 2018.
“The cream of the crop is still selling fast, even in markets that have slowed considerably,” said Orphe Divounguy, senior economist at Zillow.
“However, higher costs are putting buyers under pressure, so they are more choosy than during the pandemic frenzy,” he said. “Desirability is ultimately a function of price, and getting the pricing strategy right from day one can be the difference between a week on the market and months. Sellers who meet buyers’ current expectations of price, versus higher price expectations during the pandemic, can still sell their home quickly.”
An earlier report from the National Association of Realtors (NAR) point to a market that remains sluggish overall, even as some signs of improvement emerge. In February, according to the group, existing-home sales rose 1.7 percent from the previous month to a seasonally adjusted annual rate of about 4.09 million.
Still, sales remained below year-earlier levels, and NAR’s confidence index showed a median time of 47 days a home spent on the market in February, up from 42 days a year ago.
“Housing affordability is improving, and consumers are responding,” NAR chief economist Lawrence Yun said. “Still, there is a long way to go to return to pre‑pandemic levels of transaction activity. There are more than 6 million more jobs than in 2019, yet home sales per year are down by one million.”