The spring 2022 housing market was among the most competitive on record, with homes often going pending within days. Four years later, the landscape has shifted dramatically. According to Zillow data, the typical U.S. home listed for sale in May 2026 went pending after roughly 18 days—three times the 6-day national median recorded in May 2022.
This metric, median days to pending, offers a timely snapshot of local supply-demand balance. Because homes typically go pending weeks before closing, it often captures shifts faster than closed-sales data. The longer timeline suggests buyers now have more room to negotiate and deliberate.
The data, analyzed by ResiClub and reported by Fast Company, highlights a broad rebalancing. Markets that once saw frenzied bidding wars have cooled, giving homebuyers greater leverage. The shift reflects changing mortgage rates, inventory levels, and buyer sentiment since the peak of the pandemic-era housing boom.
While the national trend points to a more buyer-friendly environment, the story varies by local market. Some regions remain competitive, but the overall picture indicates a significant power shift from sellers to buyers compared to the 2022 frenzy.
Zillow's data provides a credible benchmark, though the metric alone does not capture all nuances like price reductions or buyer demographics. The trend bears watching as the spring season unfolds.