Homes are taking longer to sell in these once-popular markets
Among the 50 largest U.S. metro areas, 39 saw homes staying longer than last year, according to the Realtor.com® June 2025 housing market report.
All four regions—the South, Northeast, Midwest, and West—saw increases in time on the market, reflecting broader cooling trends, with the sunnier states seeing the longest slowdowns.
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4 Nashville, TN, tops the list of metro areas that see the longest time-on-the-market increase year over year.
Kevin Ruck – stock.adobe.com
Year over year, homes in the South spent eight more days on average on the market; the West showed seven more days; the Northeast three more days; and only the Midwest was essentially the same with one more day, due to its continued affordability, climate migration, and lack of inventory.
And just over half (26) of the top 50 markets are now seeing listings sit longer than their pre-pandemic averages, with almost all of them in the South and West, according to the report. It's another indication of the geographic divergence in housing market conditions.
Where is it taking the longest to sell?
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These metros are seeing the longest time-on-the-market increases year over year:
Nashville, TN (+20 days)
Orlando, FL (+15 days)
Miami, FL (+15 days)
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Tucson, AZ (+12 days)
It's not shocking that two of the four markets are in Florida, given the Sunshine State's issues with higher condo fees in the wake of the Champlain Towers collapse, skyrocketing insurance costs or the difficulty of procuring it, and the increase in extreme weather events.
'It's just returning to normal, how it was pre-COVID,' Jeff Lichtenstein, CEO of Echo Fine Properties in Miami, tells Realtor.com. 'Miami has been in the news lately for slowdowns overall, but it's mostly due to the condo market. Homes are still being sold, albeit at a slower pace.'
4 The Orlando, FL, market is a mismatch between what buyers want and what sellers have, according to real estate expert.
Kevin Ruck – stock.adobe.com
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Another factor has entered the mix: President Donald Trump's crackdown on illegal immigration.
'Deportations and some foreigners feeling unwelcome have stopped foreign purchases from occurring,' Lichtenstein says. 'That has slowed down Miami, which is an international market dependent on South and Central America, Canada, and other countries.'
Foreigners who would have previously purchased a property for their Florida college-bound children have also been scared off, he says.
However, the agent sees hope on the horizon in the form of New York City's liberal Democratic mayoral candidate Zohran Mamdani.
Lichtenstein adds that the election 'has already prompted interest from New Yorkers and businesses to escape more taxes, as a lot of the financial firms in New York City on Wall Street have already relocated to Miami.'
4 Miami is also showing signs of a slowdown of condo purchases on the market, while single-family homes continue to be a hot commodity.
Earth Pixel LLC. – stock.adobe.com
Branden Rivero of Prop Hunters in Miami Lakes says that while he clearly sees the slowdown in condos, single-family homes are still a hot commodity.
'There's a huge difference between single-family and condo, complete ends of the spectrum,' he tells Realtor.com. 'We still lack quality inventory for the single family. Depending on the area, I still have homes sold before they are even listed.'
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And Jill Penman of ONE/Sotheby's International Realty, who sells in South Florida, says that buyers and sellers are caught in a dance of one having little motivation to sell due to being locked in to their mortgage rates and the other being disinclined to shell out COVID-19-era prices.
'They aren't willing to overpay and will ride it out,' she says of these buyers.
As for Orlando, local agent Martin Orefice of Rent to Own Labs says inventory is part of the problem—not necessarily the lack of it, but the mismatch between what buyers want and what sellers have.
4 'I do not think [the slowdown] is a bad thing,' says Jill Penman of ONE/Sotheby's International Realty.
Eric – stock.adobe.com
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'Most of the homes on the market are big and expensive, and most people looking for homes are younger first-time homebuyers, many of whom work at local theme parks or have recently graduated from UCF or other nearby universities,' he tells Realtor.com.
'People just can't afford the homes that are on offer. Even retirees, the other big source of growth for us, are looking to downsize and live near water.'
Good news for buyers
All in all, agents see the slowdown as an opportunity to separate the wheat from the chaff.
In a time when the American dream of owning a home is out of reach for so many, this can only be welcome news to buyers as sellers are forced to let go of their inflated prices.
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'I do not think [the slowdown] is a bad thing,' Penman says. 'It just weeds out real motivated sellers from the ones that are not serious.'
The Realtor.com report aligns with that sentiment.
'With growing inventory and homes taking longer to sell, the U.S. housing market is undoubtedly shifting in a buyer-friendly direction,' the report notes, finding more price reductions in 2025 than in any year of Realtor.com data. However, this signals selective discounts, not widespread plummets.
In June, the national median list price held at $440,950, essentially flat since the previous month. However, prices are beginning to fall in the West and South, with -8% and -9% declines, respectively.
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'I think it would do us all a lot of good to take a close look at his example,' said Larry Grisolano, a Chicago-based Democratic media strategist and former adviser to President Barack Obama. Whatley, a former North Carolina GOP chairman and close Trump ally, used his Thursday announcement that he was entering the race to hail the president as the true champion of the middle class. He said Trump had already fulfilled promises to end taxes on tips and overtime and said Cooper was out of step with North Carolinians. 'Six months in, it's pretty clear to see, America is back,' Whatley said. 'A healthy, robust economy, safe kids and communities and a strong America. These are the North Carolina values that I will champion if elected.' 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Republican strategists familiar with the national Senate landscape have said privately that Cooper poses a formidable threat. The Senate Leadership Fund, a GOP super PAC affiliated with Senate Majority Leader John Thune, wasted no time in challenging Cooper's portrayal of a common-sense advocate for working people. 'Roy Cooper masquerades as a moderate,' the narrator in the 30-second spot says. 'But he's just another radical, D.C. liberal in disguise.' Cooper, a former state legislator who served four terms as attorney general before he became governor, has never held an office in Washington. Still, Whatley was quick to link Cooper to national progressive figures such as New York Rep. Alexandria Ocasio-Cortez, former Vice President Kamala Harris and Vermont Sen. Bernie Sanders. Whatley accused Cooper of failing to address illegal immigration and of supporting liberal gender ideology. 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Hamilton Spectator
an hour ago
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North Carolina Senate race sets up as a fight over who would be a champion for the middle class
RALEIGH, N.C. (AP) — Democrats still in the dumps over last year's elections have found cause for optimism in North Carolina, where former Gov. Roy Cooper jumped into the race for that state's newly open seat with a vow to address voters' persistent concerns about the challenges of making ends meet. Even Republicans quietly note that Cooper's candidacy makes their job of holding the seat more difficult and expensive. Cooper had raised $2.6 million for his campaign between his Monday launch and Tuesday, and more than $900,000 toward allied groups. Republicans, meanwhile, are hardly ceding the economic populist ground. In announcing his candidacy for the Senate on Thursday, Republican National Committee Chair Michael Whatley credited President Donald Trump with fulfilling campaign promises to working Americans and painted Cooper as a puppet of the left. Still, Cooper's opening message that he hears the worries of working families has given Democrats in North Carolina and beyond a sense that they can reclaim their place as the party that champions the middle class. They think it's a message that could help them pick up a Senate seat, and possibly more, in next year's midterm elections, which in recent years have typically favored the party out of power. 'I'm Roy Cooper. And I know that today, for too many Americans, the middle class feels like a distant dream,' the former governor said in a video announcing his candidacy. 'Meanwhile, the biggest corporations and the richest Americans have grabbed unimaginable wealth at your expense. It's time for that to change.' Cooper's plainspoken appeal may represent just the latest effort by Democrats to find their way back to power, but it has some thinking they've finally found their footing after last year's resounding losses. 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Pat Dennis, president of American Bridge 21st Century, a group that conducts research for an initiative called the Working Class Project, said Cooper struck a tone that other Democrats should try to match. 'His focus on affordability and his outsider status really hits a lot of the notes these folks are interested in,' Dennis said. 'I do think it's a model, especially his focus on affordability.' 'We can attack Republicans all day long, but unless we have candidates who can really embody that message, we're not going to be able to take back power.' ___ Beaumont reported from Des Moines, Iowa. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
Forbes
an hour ago
- Forbes
Trump Must End Dodd-Frank's Backdoor Tariffs Blocking Critical Minerals & Impoverishing Congo
Amid controversies over tariffs and their effects, one particularly destructive barrier to trade has gone overlooked: restrictions on 'conflict minerals' that exacerbate poverty in the developing world, undermine U.S. access to rare earth metals and critical minerals, and hand a competitive edge to China in control of the global supply of these critical minerals. Ironically, this trade barrier was not erected by President Donald Trump. It came from legislation hailed by many Democrats now critical of Trump tariffs. Nor did it come from legislation particularly geared to trade. Rather, this obstruction of trade was a last-minute insertion into the Dodd-Frank financial regulation overhaul signed by President Barack Obama 15 years ago in July 2010. Dodd-Frank's Section 1502 targets the Democratic Republic of the Congo (DRC), which has recently been a focus of the Trump's administration's strategic plans to access rare earths and other critical minerals to ensure a steady supply not reliant on China. The DRC has one of the richest mineral supplies in the world but is plagued by violence from warlords and militias, including a July 27 attack on a Catholic church that left at least 49 worshipers dead. The Trump administration's African diplomatic team has made headway in striking a deal with the nation in which the U.S. would provide security assistance to the DRC government in its fight against warlords in return for U.S. access to critical minerals within the country. But any such deal would likely be threatened by Section 1502, effectively a prohibitive backdoor tariff on many U.S. companies trying to access the DRC's resources. This Dodd-Frank provision forces publicly traded companies in the U.S. to disclose if any of their products contain 'conflict minerals' mined in the Democratic Republic of the Congo and nine adjoining African nations. Under the law, firms listed on U.S. stock exchanges must audit their supply chains and disclose if their products contain even traces of four designated minerals—gold, tantalum, tin and tungsten—that might have been mined in areas controlled by warlords. The provision was sold as a way to protect Congolese residents from warlords who profited from the mining and sale of these minerals, with little effect on U.S. consumers and producers. Yet the rule has ended up increasing poverty and violence in the DRC while depriving the U.S supply chain of access to critical minerals needed for everything from smartphones and laptops to medical equipment. The big problem is that companies often face insurmountable difficulties when trying to trace the origins of tiny components of their products. As the Wall Street Journal reported, manufacturers spent about $709 million and more than six million man-hours attempting to trace their supply chains for conflict minerals in 2014. After all this expense, 90% of those companies still couldn't confirm their products were conflict-free. As a result of these burdens in auditing the supply chain, many companies simply left the DRC and Congo region altogether and sourced materials elsewhere. As David Aronson, an acclaimed journalist who has written about the region for more than three decades, put it in testimony to Congress, 'the law imposed a de facto embargo on mineral production that impoverished the region's million or so artisanal miners.' Among the lingering effects of the de facto embargo are reductions in education, health care, and food supply. These woes stem both from the sharp increase in unemployment of the region's miners and – as noted by Aronson in his testimony and in a New York Times op-ed he wrote -- the sharp reduction in mining company planes that also brought food and medicine to the region that occurred after U.S firms left. A study in the Journal of Law and Economics in 2016 found that the mandate from the Dodd-Frank provision increased infant mortality in the affected Congo regions by at least 143 percent. And the warlord situation didn't improve and in fact may have worsened because of the Dodd-Frank provision. An October report to Congress from the U.S. Government Accountability Office (GAO) found 'no empirical evidence that the rule has decreased the occurrence or level of violence in the eastern DRC, where many mines and armed groups are located.' The GAO also found that 'the rule was associated with a spread of violence, particularly around informal, small-scale gold mining sites, … since gold is more portable and less traceable than the other three minerals.' The poverty and violence that soared due to Dodd-Frank's effects also gave China the perfect entry point into the Congo region. With limited options, the DRC government agreed to China's offers over the past 15 years of building infrastructure in return for granting China access to its minerals. Now, as China has failed to deliver promised infrastructure improvements, the DRC is looking for a new deal with the U.S that will focus on boosted security and trade rather than aid. But any such deal will likely fail as long as Dodd-Frank's burdens on U.S. companies accessing the minerals continue. As the GAO notes, the rule's near-insurmountable burden – that 'many mines are located in remote, potentially insecure areas, and coordinating teams to visit and inspect them is difficult' – remains standing as a trade barrier. Fortunately, the Dodd-Frank provision allows the president to waive its mandate for two years if he deems such a waiver to be in the interest of national security. President Trump, as part of his goal of U.S. resurgence, must make use of this waiver to reduce China's influence and increase U.S. access to the region's minerals. Then, he should call on Congress to end this trade barrier by repealing Dodd-Frank's Section 1502. It's time for the president and Congress to remove this backdoor tariff from Dodd-Frank that puts China first and the U.S. and DRC last. John Berlau is Senior Fellow & Director of Finance Policy at the Competitive Enterprise Institute and author of the book George Washington, Entrepreneur: How Our Founding Father's Private Business Pursuits Changed America and the World.
