{"id":921799,"date":"2025-12-22T08:27:30","date_gmt":"2025-12-22T13:27:30","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/home-sellers-retreat-with-supply-posting-biggest-decline-since-2023\/"},"modified":"2025-12-22T08:27:30","modified_gmt":"2025-12-22T13:27:30","slug":"home-sellers-retreat-with-supply-posting-biggest-decline-since-2023","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/home-sellers-retreat-with-supply-posting-biggest-decline-since-2023\/","title":{"rendered":"Home Sellers Retreat, With Supply Posting Biggest Decline Since 2023"},"content":{"rendered":"

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Home Sellers Retreat, With Supply Posting Biggest Decline Since 2023<\/b><\/p>\n

Pending home sales fell the most in nearly a year, and the typical home that did sell sat on the market for 53 days\u2014the slowest November pace in nearly a decade<\/i><\/p>\n

SEATTLE–(BUSINESS WIRE<\/a>)–
\nActive listings of homes for sale fell 1.4% month over month in November\u2014the biggest drop since June 2023 on a seasonally adjusted basis. That\u2019s according to a new report<\/a> from Redfin<\/a>, the real estate brokerage powered by Rocket. New listings dropped 2.2% month over month to the lowest level since April 2024 on a seasonally adjusted basis.<\/p>\n

\nHome sellers are retreating in part because buyers are retreating. Buyers are skittish due to high mortgage rates and economic jitters, which means many sellers aren\u2019t<\/a> getting the list price they hoped for. As a result, some are opting to delist<\/a> their homes or not list at all.<\/p>\n

\nThe typical home that sold last month went for 1.6% less than its final list price\u2014the steepest November discount in six years. The median U.S. home sale price rose slightly (+0.7% year over year to $433,222), but that was the slowest growth since June 2023 aside from this past May, when home prices grew at a slightly slower clip.<\/p>\n

\n\u201cSellers have to price their homes very reasonably to attract interest,\u201d said Carlos Castillo<\/a>, a Redfin Premier<\/a> real estate agent in Los Angeles. \u201cI recently advised a seller in the Valley to drop their price because we weren\u2019t getting much interest. Cutting the price drummed up four separate offers and helped the home sell above the original asking price. The challenge is that most sellers are also buyers, and homes are expensive, so they often need to get a certain amount for their house to afford the next one. Another client plans to pull their home off the market for the holidays if they don\u2019t get an offer within a month.\u201d<\/p>\n

Pending Sales Posted Biggest Decline in Almost a Year; Homes That Did Sell Moved at Slowest November Pace in Nearly a Decade<\/b><\/p>\n

\nPending home sales fell 2.5% month over month on a seasonally adjusted basis in November\u2014the largest decline since December 2024\u2014amid stubbornly high housing costs and widespread uncertainty about the U.S. economy.<\/p>\n

\nExisting-home sales were flat month over month (0%) and virtually flat year over year (0.8%), coming in at a seasonally adjusted annual rate of 4.27 million in November. Redfin economists expect existing-home sales to end the year roughly flat with 2024, which was the worst year for sales since 1995.<\/p>\n

\nThe typical home that went under contract last month spent 53 days on the market. That\u2019s seven days longer than a year earlier and the slowest November pace since 2016.<\/p>\n

\nBoth buyers and sellers have been retreating from the housing market, but buyers have backed off faster over the past couple of years. As a result, sellers far outnumber buyers, which means the buyers who are<\/i> in the market hold negotiating power. Many buyers are successfully negotiating concessions and\/or lower prices from sellers, and homes are taking a long time to sell in part because buyers feel they can take their time.<\/p>\n

\nWhile mortgage rates have ticked down in recent months, they remain much higher than they were in 2020 and 2021, and Redfin agents say many house hunters are waiting to jump into the market until rates fall further.<\/p>\n

November 2025 Housing Market Highlights: United States<\/b><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n\u00a0<\/p>\n<\/td>\n

\n

November 2025<\/b><\/p>\n<\/td>\n

\n

Month-over-month change<\/b><\/p>\n<\/td>\n

\n

Year-over-year change<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Median sale price<\/b><\/p>\n<\/td>\n

\n

\n$433,222<\/p>\n<\/td>\n

\n

\n-1.5%<\/p>\n<\/td>\n

\n

\n0.7%<\/p>\n<\/td>\n<\/tr>\n

\n

Existing-home sales, seasonally adjusted annual rate<\/b><\/p>\n<\/td>\n

\n

\n4,272,868<\/p>\n<\/td>\n

\n

\n0.0%<\/p>\n<\/td>\n

\n

\n0.8%<\/p>\n<\/td>\n<\/tr>\n

\n

Pending home sales, seasonally adjusted<\/b><\/p>\n<\/td>\n

\n

\n485,805<\/p>\n<\/td>\n

\n

\n-2.5%<\/p>\n<\/td>\n

\n

\n-3.5%<\/p>\n<\/td>\n<\/tr>\n

\n

Homes sold, seasonally adjusted<\/b><\/p>\n<\/td>\n

\n

\n433,655<\/p>\n<\/td>\n

\n

\n0.9%<\/p>\n<\/td>\n

\n

\n-0.7%<\/p>\n<\/td>\n<\/tr>\n

\n

New listings, seasonally adjusted<\/b><\/p>\n<\/td>\n

\n

\n526,666<\/p>\n<\/td>\n

\n

\n-2.2%<\/p>\n<\/td>\n

\n

\n-3.5%<\/p>\n<\/td>\n<\/tr>\n

\n

Total homes for sale, seasonally adjusted (active listings)<\/b><\/p>\n<\/td>\n

\n

\n1,954,870<\/p>\n<\/td>\n

\n

\n-1.4%<\/p>\n<\/td>\n

\n

\n6.2%<\/p>\n<\/td>\n<\/tr>\n

\n

Months of supply<\/b><\/p>\n<\/td>\n

\n

\n3.8<\/p>\n<\/td>\n

\n

\n0.4<\/p>\n<\/td>\n

\n

\n0.4<\/p>\n<\/td>\n<\/tr>\n

\n

Median days on market<\/b><\/p>\n<\/td>\n

\n

\n53<\/p>\n<\/td>\n

\n

\n2<\/p>\n<\/td>\n

\n

\n7<\/p>\n<\/td>\n<\/tr>\n

\n

Share of homes that sold above final list price<\/b><\/p>\n<\/td>\n

\n

\n24.1%<\/p>\n<\/td>\n

\n

\n-1.2 ppts<\/p>\n<\/td>\n

\n

\n-2.5 ppts<\/p>\n<\/td>\n<\/tr>\n

\n

Average sale-to-final-list-price ratio<\/b><\/p>\n<\/td>\n

\n

\n98.4%<\/p>\n<\/td>\n

\n

\n-0.1 ppts<\/p>\n<\/td>\n

\n

\n-0.4 ppts<\/p>\n<\/td>\n<\/tr>\n

\n

Pending sales that fell out of contract, as % of overall pending sales<\/b><\/p>\n<\/td>\n

\n

\n15.0%<\/p>\n<\/td>\n

\n

\n0.6 ppts<\/p>\n<\/td>\n

\n

\n0.8 ppts<\/p>\n<\/td>\n<\/tr>\n

\n

Monthly average 30-year fixed mortgage rate<\/b><\/p>\n<\/td>\n

\n

\n6.24%<\/p>\n<\/td>\n

\n

\n-0.01 ppts<\/p>\n<\/td>\n

\n

\n-0.57 ppts<\/p>\n<\/td>\n<\/tr>\n

\n

Note: Data are subject to revision<\/i><\/p>\n<\/td>\n

\n\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

November 2025 Metro-Level Highlights<\/b><\/p>\n