Homes are selling at the slowest summer pace in a decade: Redfin

(NewsNation) — High prices and economic uncertainty are keeping homes on the market longer, making last month the slowest July in a decade.

The typical home that went under contract in July spent 43 days on the market — up from 35 days a year earlier and the longest span for any July since 2015, according to new Redfin data.

It's another sign that buyers are gaining leverage after years of tight inventory, though the extent of that advantage varies by region.

In Florida, homes are taking much longer to sell, over 90 days in some cities. West Palm Beach (95 days), Fort Lauderdale (92 days) and Miami (86 days) were the slowest major markets in the country last month.

Demand in the Sunshine State has eased after a red-hot pandemic-era surge pushed prices higher and fueled a construction b