Why “Days to Pending” Shows Buyers Gaining Power Across the U.S.

Days to Pending: National Shift Since 2022

The metric days to pending has become a leading barometer of buyer power in U.S. housing. In May 2022 the median time a listed home went pending was ↓ 6 days nationwide; by May 2026 it stretched to ↑ 18 days, a three‑fold rise that signals a broad rebalancing. Because pending status precedes closing by weeks, the indicator reacts faster than completed‑sale data.

Regional divergence

Sunbelt metros show the steepest elongation. In Miami the median fell from 10 days in 2022 to 52 days in 2026, while Austin jumped from 11 to 41 days. Texas markets such as McAllen and Laredo now linger at 79 and 75 days respectively, topping the national list. By contrast, Midwestern hubs retain speed: Springfield, IL averages 4 days, and Kansas City, MO 5 days, keeping buyer leverage modest.

“The slowdown grants buyers breathing room to negotiate price cuts and concessions,”

notes a senior analyst at Reuters. Inventory growth, higher mortgage rates, and lingering affordability gaps drive the trend. Yet pockets of tightness persist in the Northeast; Philadelphia’s median rose only from 7 to 9 days, and Boston from 6 to 8 days. The data suggest a bifurcated market: Sunbelt sellers face longer exposure, while many Northern metros remain effectively seller‑friendly. Editors note: correction to the May 2026 median days figure for Miami (previously misreported).

Intel provided by: Dominic Mercer

Global Real Estate Strategist