The U.S. housing market is splitting in two: The best-priced homes are selling within days, while others are sitting longer than they have in years, according to a new Zillow analysis.
TAKE THE INMAN INTEL INDEX SURVEY
Nationally, 18.5 percent of homes went pending within seven days in February 2026. In the fastest markets like St. Louis; Hartford, Connecticut; and Seattle, more than 1 in 3 homes sold within that window. At the other end, Austin, Texas, had the smallest share of fast sales of any market tracked, with just 2.7 percent of homes going pending within seven days.
Homes that sold within a week were 2.6 times more likely to sell above asking price than the typical listing, the second-highest such multiple in Zillow’s data going back to 2018. In February, 44.3 percent of those fast-selling homes closed above list price, compared to 17.1 percent of all homes.
The divide between sold homes and stagnant inventory widened in March to its broadest point for any March since 2020. The typical sold home went pending in 19 days, while the median active listing had been on the market for 56 days — a 37-day gap. That gap was as narrow as nine days in April 2022.
Zillow said the figures reflect a market stabilizing toward pre-pandemic norms, with the group of homes selling within a week shrinking, even as those that do sell fast continue to draw strong offers.
Dr. Orphe Divounguy
“The cream of the crop is still selling fast, even in markets that have slowed considerably,” said Orphe Divounguy, senior economist at Zillow. “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.”
Several Midwest markets, including St. Louis, Cincinnati and Kansas City, had at least 3 in 10 homes sell within seven days. Sun Belt markets where inventory has built up, including Austin, Texas; San Antonio, Texas; Charlotte, North Carolina; and Jacksonville, Florida, had fewer than 1 in 10 homes sell within that timeframe, Zillow found.
