This is the 6768th most frequent Spanish word.
corto
Short.
In this sentence, 'corto' is used as an adjective to describe the noun 'camino', meaning 'short' in terms of distance.
El camino a casa es corto.
The way home is short.
Here, 'corto' is used as an adjective related to 'pelo', indicating the length as being short.
Tengo el pelo corto.
I have short hair.
In this context, 'corto' describes 'tiempo', emphasizing the brevity of the time available.