2025 housing market has flipped

A new report from Redfin shows that houses are sitting on the market for the longest period in over 5 years, at 54 days on market. As sellers continue to price their homes too high and buyers continue to drop out of the market.

Pending sales were down 9% over the last year, and were especially poor in Miami, where sales are now down 63% from their peak pandemic.

Such lower buyer demand could end up impacting home prices sometime in 2025, especially in states like Florida and Texas, where DOM is up the most.
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[ReventureConsulting]

The dominos continue falling, one by one.

-DOM now up to highest level in 5 years
-Months of Supply up to highest level in 6 years
-Pending Sales continue to collapse

The only thing remaining is for sellers to wake up and smell the roses.

To track the price and inventory data in your market, to see when that time comes, type in your ZIP code at www.reventure.app.

[ReverberatingWisdom]

I keep a pretty good pulse on my local market, and i will say it is absolutely shifting. The only thing holding up prices now is delusion.

[jojopapa]

The same houses and same sellers are on market for 2 years. They remove them and return them with same price. That is what they are doing!

[xbiker]

Our 500k offer was declined 2 months ago. House is now pending at $490. Sellers need to wake up.

[deelehey]

People can’t afford the insurance and taxes anymore in Florida. They are desperate to sell but don’t understand that most overpaid in the first place and may actually lose money on the sale.

[robertannable]

The reason people are listing higher and then lowering and higher and lower is because the Zillow and Redfin etc algorithms get duped. If you list your house for $400k, the zestimate will ballpark around 400k. Even if the property is really only appraising at 340. I just did this with a condo I sold in Vegas and it worked. Zestimate had it at $319k. We listed at $350, and the zestimate went up immediately to $349k. It sold within the week for full asking price and zero seller concessions.

[kalinahenry]

I'm from Broward County, and the rental market is stacking up. I moved to New York temporarily to be closer to loved ones, but boy, am I can't wait to secure a property back home 😊

[MissDemeanorOG]

Sellers and real estate agents still delusional. Trying to create FOMO still

[bigb]

Sellers are stuck on the idea that rates are too high, they aren't, prices are too high. Sorry folks it is not your birth right to have 2 % interest rates so you can double or triple your money in 2 years.

[Thecode-vfoi]

Not in California. Most listings sell in 10-14 days at 10-30% over list price. The entry level home price is around $1.0 million dollars.

[Grace.h-to]

The housing market is inflated and oversaturated with homes being on the market with astronomical price tags just stagnant for months. It is very clear that or generation will be likely one of the most devastating bubble pops in modern history. Seeking best possible ways to grow 250k into $1m+ and get a good house for retirement, I'm 56.

[jkfang]

The problem is that sellers can hold indefinitely if they got sub 3% interest rates. This won't end until interest rates drop.

[Accrd]

We just left Florida and bough this 7k sq ft home in Kentucky for 815k! The previous owner started at 1 million last year and was asking 875k when we walked in and threw down money. 60k below asking price. We actually came in at the 780k mark and we negotiated from there. Her realtor kept calling us asking us to go look at the home again, she wanted it gone! Florida can keep that standstill traffic, we get everywhere in 10mins max! People are country and so friendly, love the change. I will just miss the weather a bit but not enough to ever stay in Florida any longer.

[charleshorseman]

A huge amount of these prospective sellers are speculating and don't really need to sell. A lot of them are investment homes that are vacant.

[LongNguyen-fpri]

Some sellers put their homes on sales but don’t need buyers; that’s why they list high prices. But majority of sellers realized the 2022 was over; therefore, the prices dropped average 5%, not much but drop is on the roll.

[cr]

My husband and I have been noticing so much of this trend of sellers "RAISING THEN LOWERING THEN RAISING" prices!!! It appears as though they are playing games thinking if they raise the price it will somehow entice potential buyers interest in the house or make it seem like the demand for it will raise if they raise the price. UTTERLY RIDICULOUS GAME PLAYING BY THE SELLERS AND/OR INVESTORS!!!

[dvro-]

In Brazil, sellers rather sit in a home for 1 year than lower the price. I think we’re getting like that here too.

[lucorrez]

Alright let’s keep it simple 400k house which seems to be mid avg across the state. Even with 60k deposit who can afford 4, 200 monthly payment plus tax and depending where you live property TAX. Especially with mass layoff coming our way who wants to carry that liability???

[sagerolson]

If prices won't drop then this will only exacerbate the downfall. It could get real wild.

[larsedik]

Our house in Los Angeles sold in one day, but that was back in July. We did not price it above market value, and it is now worth more than what we sold it for. The price we sold it for is still more than double what we paid for it 15 years ago, but it is now worth $210, 000 more than what we sold it for. I think we sold it too cheap, and we really were not in a hurry to sell.