Home Sellers Exit Market as Listings Linger and Prices Slip

Home sellers are pulling listings as buyer demand fades and prices soften, marking the biggest market exit in eight years.

November 26, 2025

Nina Dale

Nearly 85,000 home sellers removed their listings in September, up 28% year over year—the highest for that month in eight years.
About 70% of homes listed in September stayed on the market for 60 days or more.
Home supply is 15% higher than a year ago but could shrink during the winter slowdown.

Key Takeaways

Sellers Step Back as Listings Linger

CNBC reports more homeowners are pulling their homes off the market. In September, sellers removed nearly 85,000 listings, a 28% jump from the same month in 2024. That’s the highest number for any September in eight years, according to Redfin.

Listings are staying on the market longer, which is pushing sellers to reconsider. In September, 70% of homes listed had been on the market for 60 days or more.

Prices Slip, Sellers Hold Out

Home prices are showing signs of softening. In September, national home prices rose 1.3% year over year, down slightly from 1.4% in August, based on the S&P CoreLogic Case-Shiller Index.

Rather than accept lower offers, many homeowners are waiting. Some are cutting prices, often more than once. Zillow reported that the average listing saw $25,000 in cumulative price cuts in October—the highest level the platform has recorded.

At the same time, unusual market distortions like inventory mismatches and financing challenges continue to impact housing performance across the country.

Inventory Looks Higher Than It Is

On paper, inventory has grown. Realtor.com says the number of homes for sale is 15% higher than last year. But that figure can be misleading.

“When tens of thousands of homeowners pull their homes off the market rather than accept a low offer, it effectively reduces the supply of homes that are actually available,” said Asad Khan, a senior economist at Redfin.

Losses, Delistings, and the Slow Season Ahead

Sellers who bought in the last few years are starting to see potential losses. About 15% of homes that were removed from the market in September were at risk of selling at a loss—the highest rate in five years.

Only one in five delisted homes gets relisted quickly. Many sellers may wait for spring, the market’s busiest season, before trying again.

Pending home sales rose 1.9% in October, according to the National Association of Realtors. That increase may reflect a brief dip in mortgage rates during the month. But rates have already started climbing again in November.