Housing markets where homebuyers have gained the most power, as told by days to pending

The typical U.S. home listed for sale in May 2026 went pending after approximately 18 days, a significant increase from the 6-day median recorded in May 2022, according to Zillow data. This metric, median days to pending, offers a real-time indicator of the supply-demand balance in housing markets, often reflecting shifts before closed-sales data. A rise in days to pending suggests buyers are gaining leverage, while a decrease indicates a tightening market. The data reveals a dramatic shift across the country, with many areas in the Sun Belt, including large parts of Florida and Texas, experiencing a sharp rise in median days to pending since the pandemic-era housing boom. This indicates increased inventory and greater buyer power in these regions. In contrast, many markets in the Northeast and Midwest, such as numerous metros in Pennsylvania and Ohio, have remained relatively tight, with homes continuing to go pending at a faster pace compared to the national trend.