Jacksonville, FL, December 23, 2025
In a significant shift, the U.S. housing market is witnessing a retreat among home sellers, as active listings dropped by 1.4% in November, marking the largest decline since June 2023. New listings have also fallen to their lowest level since April 2024, indicating a slowdown in sales activity amid high mortgage rates and economic uncertainties. Surprisingly, the median home sale price rose slightly year-over-year, but the growth is the slowest observed in recent months, raising concerns about the future trajectory of the housing market.
Home Sellers Retreat, With Supply Posting Biggest Decline Since 2023
Jacksonville, FL – In November 2025, the U.S. housing market experienced a significant slowdown, with active listings of homes for sale decreasing by 1.4% month-over-month—the largest drop since June 2023 on a seasonally adjusted basis.
Decline in Listings and Sales
New listings also fell by 2.2% month-over-month, reaching their lowest level since April 2024. Pending home sales declined by 2.5% month-over-month, marking the steepest drop in nearly a year. Moreover, the typical home that sold in November spent 53 days on the market, seven days longer than the previous year, indicating a slowdown in sales activity.
Factors Influencing the Market
The retreat of home sellers is attributed to high mortgage rates and economic uncertainties, which have made buyers more cautious. Consequently, many sellers are not receiving their desired list prices, leading some to withdraw their homes from the market or delay listing them altogether.
Impact on Home Prices
Despite the decline in listings, the median U.S. home sale price rose slightly by 0.7% year-over-year to $433,222. However, this was the slowest growth since June 2023, reflecting the cooling market conditions.
Outlook for the Housing Market
Economists anticipate that existing-home sales will remain relatively flat for the remainder of 2025, aligning with the trends observed in 2024, which was the slowest year for sales since 1995. The market’s future trajectory will depend on factors such as mortgage rate fluctuations and broader economic developments.
Related Market Data
As of December 23, 2025, the State Street SPDR S&P Homebuilders ETF (XHB) is trading at $104.56, reflecting a slight decrease of 0.49% from the previous close. This ETF tracks the performance of homebuilding companies and can provide insight into the broader housing market trends.
Key Features of the Housing Market in November 2025
| Feature | Details |
|---|---|
| Decline in Active Listings | 1.4% month-over-month decrease, the largest drop since June 2023 on a seasonally adjusted basis. |
| New Listings | 2.2% month-over-month decrease, reaching the lowest level since April 2024. |
| Pending Home Sales | 2.5% month-over-month decline, marking the steepest drop in nearly a year. |
| Median Days on Market | 53 days, seven days longer than the previous year, indicating a slowdown in sales activity. |
| Median Home Sale Price | $433,222, a 0.7% year-over-year increase, the slowest growth since June 2023. |
Frequently Asked Questions (FAQ)
What caused the decline in home listings in November 2025?
The decline in home listings is attributed to high mortgage rates and economic uncertainties, which have made buyers more cautious. Consequently, many sellers are not receiving their desired list prices, leading some to withdraw their homes from the market or delay listing them altogether.
How did home prices change in November 2025?
Despite the decline in listings, the median U.S. home sale price rose slightly by 0.7% year-over-year to $433,222. However, this was the slowest growth since June 2023, reflecting the cooling market conditions.
What is the outlook for the housing market in 2025?
Economists anticipate that existing-home sales will remain relatively flat for the remainder of 2025, aligning with the trends observed in 2024, which was the slowest year for sales since 1995. The market’s future trajectory will depend on factors such as mortgage rate fluctuations and broader economic developments.
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Author: STAFF HERE JACKSONVILLE WRITER
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