Buyers Are Getting the Edge—but Sellers Aren’t Giving In Just Yet
According to the Realtor.com June 2025 Monthly Housing Trends Report, buyers have more to look at this summer than they’ve had in years. Active inventory is up 28.9% from a year ago, marking the 20th straight month of gains and the second month in a row with over 1 million listings on the market. The report calls this a “new post-pandemic high”—but inventory is still 12.9% below pre-COVID levels, so it’s not exactly a buyer’s market yet.
Homes are taking longer to sell, though. The median days on market in June was 53, five days longer than last year and right in line with what we saw in 2017–2019. More choices and more time are giving buyers a bit more leverage, but sellers are adjusting in their own way.
Here’s what stood out: “Price cuts were reported on 20.7% of listings—the highest share for any June since at least 2016,” the report noted. That’s six months in a row of growing markdowns. But even with the cuts, the national median list price stayed flat at $440,950, up just 0.2% from last year. So, while sellers are making concessions, most are still anchored to peak price expectations.
One subtle but important shift is in how many sellers are simply opting out. Delistings—homes pulled off the market without selling—are up 47% compared to last year. As the report puts it, “some sellers would rather wait than negotiate,”and delistings are now rising faster than active listings.
Bottom line: the market’s shifting, but it’s not tipping over. Buyers have a little more room, but many sellers still hold the high ground—or are willing to walk away.