You may be hearing that a near-record number of homeowners are pulling their houses off the market. And if that headline has you thinking, “Wait… is something bad about to happen?” You’re not alone.

Because when people start stepping to the sidelines, it sounds like a warning sign that something’s coming – or that they realize something you don’t know.

Here’s the thing. This trend gets spun like it means the market is about to crash. But the data tells a more practical story.

What the Numbers Actually Say

According to the latest data from Redfin, 5.5% of all listings were taken off the market in May. And it’s true that’s almost the highest it’s been since back in March 2020 (see graph below): 

That can sound scary. But a lot of the fear comes from how this story gets told. “A near record number of sellers are pulling their listings” makes a great clickbait headline – and that sort of thing spreads fast, especially online. But sellers pull a house off the market for plenty of reasons that have nothing to do with a crash.

Redfin points to four main forces driving this trend:

• Homes are taking longer to sell. When the pace slows down, some sellers get frustrated and decide to hold off.

• The number of homes for sale is rising faster than demand. That means buyers have more options. And sellers who don’t price or prep right may not get many eyes on their house.

• Some sellers still have pandemic-era price expectations. A price that would’ve worked a couple years ago may not match what today’s buyers will pay.

• Economic uncertainty is making both buyers and sellers cautious. Buyers pause. Sellers second-guess. And that has an impact on overall sales volume and pace.

Notice what’s missing from that list? There isn’t a single mention of an impending market crash or price collapse.

This is about a shifting pace, more competition, and sellers deciding how they want to respond.

One Detail Most Headlines Leave Out

Want more peace of mind that this isn’t a crash? This next stat delivers. Yes, more sellers are taking their homes off the market. But Redfin also shows something you’re not going to see in social posts…

The number of re-listings is growing too.  

While more sellers are pulling their listings, more are also deciding to give selling a second shot too. This is pretty much the highest re-listings have been since the pandemic hit.

While 5.5% got pulled in May, 2.3% were also put back on the market (see graph below):

That’s a signal sellers aren’t giving up or running away in large numbers.

Some are simply stepping away briefly before deciding to try again. That tells you this often isn’t a permanent decision. In many cases, it’s a pause – and the seller comes back with a different approach.

A lot of the time that change in the overall strategy is all that’s needed to finally get a house sold. 

And just in case you need more proof this isn’t a reason to worry, check this out. Buyer activity may be starting to pick back up – and that could bring more sellers back in or, at least, prevent some sellers from pulling back. 

The National Association of Realtors (NAR) reports existing home sales increased 3.2% in May. That’s the biggest increase since December. As the Wall Street Journal puts it: 

“Home sales in May posted the biggest rise this year, a sign that the housing market’s crucial spring selling season may be showing signs of life after a sluggish start.”

That doesn’t sound like a market in trouble.

Bottom Line

If you’re seeing headlines about how a record number of sellers are taking their homes off the market, don’t panic. It’s not a warning of an impending crash. It’s a market adjusting.

Open up a home search and you’ll see them. Listings that have been on the market for two months. Three. Some longer.

Most buyers scroll right past them, assuming something’s wrong with the house. But that instinct could be costing you, since the longer a home sits, the more motivated the seller usually gets.

Where Some Buyers Are Finding Better Deals

If affordability has been your #1 hurdle to buying, here’s a surprisingly simple strategy that could help you finally get your foot in the door. Start with the homes that have been sitting the longest. That’s often where the best deals are.

Here’s why. Data from Realtor.com shows there’s a connection between longer time on the market and lower sales prices. Basically, the longer a house sits, the more likely it is that the seller will reduce the price (see graph below):

The blue line tracks how long homes stay on the market, while the green line tracks the share of homes getting a price reduction. As one climbs, so does the other.  

And if you focus on these homes that are just sitting and waiting, the opportunity for you is bigger than you may think right now.

Redfin data shows there’s $347 billion worth of stale listings on the market right now – more than ever before for this time of year. So, ask your agent to filter listings for you from oldest to newest. The home that fits your budget might already be there. Just further down the list than you thought.

Lingering Doesn’t Always Mean Something’s Wrong 

Let’s say you do that and something catches your eye. Still, you might be questioning why the home has been sitting in the first place. Just remember, sometimes it has nothing to do with the home itself.

According to Redfin, common causes are:

• The asking price was set too high to start

• The home didn’t show well online

• There are a lot of homes for sale in the area, so it just got buried

So, nothing that’s necessarily a dealbreaker, or even anything that’s wrong with the home itself. If there’s a real issue, a thorough inspection will surface it. And that’s information you can use to negotiate. Not a reason to assume it’s a house worth skipping over.

How To Turn a Lingering Listing into a Win

So how do you capitalize on a lingering listing? According to USA Today, you have two main levers to pull.

The first is price. Work with your agent to study what comparable homes recently sold for, then build an offer around that. Coming in below asking price is fair game when a home has been sitting.

The second is concessions. If a seller won’t budge much on price, they may still help in other ways, like covering some closing costs, repair credits, or even a mortgage rate buydown that lowers your monthly payment.

A local agent has the context to tell which homes are the real opportunities and which are skippable.

Bottom Line

A house sitting on the market isn’t always a glaring red flag. In today’s market, it may be your best opportunity yet.

For help deciding which lingering listings are actually worth a second look, connect with a local real estate agent.

Remember a few years back when sellers held all the power and buyers were stuck offering way over asking or waiving inspections just to get a chance at the house? In many markets, those days are behind us.

While it’s going to vary by area, more metros are slowly shifting to favor buyers, and the market is starting to look a lot more like a two-way street again.

And that balance is something we haven’t had in a while.

Whether you’re buying or selling, here’s what you need to know about what’s changing and what it means for your move.

The Most Buyer-Friendly Market in Years

The national data tells an interesting story right now. According to Realtor.com:

“The national housing market is balanced but gradually loosening as the cycle moves in a more buyer-friendly direction . . .“

That’s because, over the past few years, more and more metros have been flipping back to more buyer-friendly terms as inventory’s grown. And when you zoom in on the latest Realtor.com data for the top 50 metro markets over time, the trend becomes really clear (see graph below).

Back in 2021, almost all major metros were seller’s markets. By the end of 2025, only 1 in 3 still favored sellers. That’s an obvious shift.

And that changes how the market is going to feel for everyone. Sellers shouldn’t still expect 2021 conditions, but neither should buyers. At least, not generally speaking.

It’s Not the Same Story Everywhere

That said, who has the power ultimately depends on where you live. While more metros are leaning buyer-friendly lately, there are still plenty of strong seller’s markets right now, too.

It really comes down to how much housing supply and demand there is in your area. And that varies enormously by region.

Sun Belt cities like Austin, Tampa, and San Antonio saw major building booms in recent years, giving buyers more options and more negotiating room. Meanwhile, cities in the Northeast and Midwest – think Rochester, Hartford, and Buffalo – didn’t see that same wave, so inventory stayed tight and competition stayed fierce. As Jeff Ostrowski, Housing Analyst at Bankrate, explains:

“The formerly hot Sun Belt markets have cooled, while the Northeast and Midwest have stayed hot. The big driver here is construction activity. The softest markets now [have] experienced big booms that spurred new building, and that has led to a large supply of new and existing homes on the market in those places.”

Practical Advice for Your Move

To find out who has the power in your local market, talk to an agent. Because knowing what’s happening locally is going to be the key to setting the right strategy for your move.

If the market is working in your favor, great. Lean in and use it to your benefit. But if it’s not, all hope isn’t lost. Your agent can help you figure out how to approach any market.

Here’s some practical advice if there’s a mismatch between your goal and local market conditions.

If you’re buying in a seller’s market:

• Get pre-approved before you start shopping. It shows sellers you’re serious.

• Be ready to act fast when the right home hits the market.

• Consider offering a quick closing date or flexible terms.

• Work closely with your agent to craft a competitive offer.

If you’re selling in a buyer’s market:

• Price it right from day one. Overpricing will cost you time and money.

• Focus on curb appeal and staging to stand out in areas with more inventory.

• Be open to offering incentives, like covering closing costs or a home warranty.

• Expect buyers to negotiate and be ready to be flexible.

Bottom Line

Right now, local markets are moving in very different directions. And your strategy as a buyer or seller should reflect your market.

Want to know which way your local market is leaning and what that means for your move? Talk to a local real estate agent.