The June Housing Trends Report from Realtor.com sheds light on a pivotal moment in the real estate market, where a stand-off between buyers and sellers is unfolding. As the market evolves, we see a 28.1% increase in active inventory year-over-year, reaching a post-pandemic peak, yet many sellers are choosing to withdraw their listings entirely. In May alone, the delisting rate rose by an astonishing 47% compared to the previous year. Such trends indicate that despite the influx of available homes, some sellers are opting for patience, waiting for better offers that meet their expectations. This raises questions about the future balance of the market.
Danielle Hale, Chief Economist at Realtor.com, emphasizes that this year’s market is characterized by stark contrasts. While buyers benefit from a wider selection of homes than they’ve experienced in years, sellers, bolstered by strong equity positions and high price expectations, are pulling back when offers don’t meet their satisfaction. As we look forward, this dynamic could determine the trajectory of the market, potentially shifting it from a balanced environment to one favoring buyers, depending on how these trends progress.
Key Market Metrics for June 2025
- - Median Listing Price: $440,950 (an increase of 0.2% from May 2025)
- - Active Listings: 1,085,520 (up 4.8% month-over-month and 28.9% year-over-year)
- - New Listings: 452,414 (down 2.7% from May)
- - Median Days on Market: 53 days, a slight increase from previous months, matching pre-pandemic levels.
- - Price Reduction Share: 20.7% of listings saw price cuts, the highest for June since 2016.
Even with rising delistings, the number of available homes remains significant because the national active listings are nearing pre-pandemic levels, sitting approximately 13% below those numbers. Notably, every major region witnessed an increase in inventory, with the West seeing a remarkable 38% improvement and the Southern markets growing by nearly 30%. Las Vegas and Washington, D.C., emerged as leaders in inventory growth, with increases of 77.6% and 63.6% year-over-year, respectively.
Price Adjustments and Seller Hesitations
As competition becomes fiercer and affordability challenges multiply, sellers are beginning to adjust their price expectations cautiously. The highest incidence of price cuts recorded in June indicates a shift in strategy, suggesting that while sellers are still attached to peak pricing, they are willing to negotiate. The median list price has remained steady at $440,950, reflecting a mere 0.1% rise from the previous year, underscoring that many sellers continue to anchor their hopes to previous market highs.
Interestingly, delistings are outpacing the increase in active listings, accounting for a notable portion of the market, which has risen from around 3.2% a year ago to 4.1%. While buyers enjoy access to more homes, this also signifies that a significant number of sellers prefer to withdraw their properties rather than entertain lower offers. During the spring, the ratio of delistings to newly recorded listings peaked at 13%, indicating a growing trend among sellers who would rather not reduce prices.
Regional Insights from Major Metros
The report provides an extensive look at various metropolitan areas. For instance, Atlanta saw a 36.7% increase in active listings, while Miami experienced a 35% increase in listings. Cities like Austin, Texas, are seeing varied responses, with sellers stepping back amid rising prices and increasing days on the market. This scenario prompts a reevaluation among homeowners regarding their strategies.
In conclusion, the current housing market reflects a complex interplay between buyer demand and seller willingness, with rising inventories clashing against a backdrop of seller reluctance. As more homeowners delay listings in pursuit of better offers, the potential for a shift toward more favorable buyer conditions looms just on the horizon. How this dynamic unfolds in the coming months will shape opportunities for both parties in an ever-evolving real estate landscape.