64.7% of listed homes in June stayed on the market for more than 30 days, up from 59.6% a year ago, the largest year-over-year increase in the past year. The share of homes on the market for two months or longer is at 40%, rising for the third consecutive month.
Factors contributing to the rise in stale listings include high mortgage rates, buyers waiting for Federal Reserve rate cuts in September, and sellers stubbornly holding onto high prices despite increased inventory.
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