Business
Redfin Reports Pending Home Sales Fall 6%, the Biggest Drop in Nearly a Year
SEATTLE, December 18, 2025--U.S. pending home sales fell 5.8% from a year earlier during the four weeks ending December 14, the biggest decline since the start of 2025. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket.
About this update from Rocket Companies, Inc.
[{"type":"text","content":"House hunters are retreating amid high housing costs and a seasonal slowdown, leading prospective sellers to pull back, too","length":123,"tagName":"p","attribs":{}},{"type":"text","content":"SEATTLE, December 18, 2025--(BUSINESS WIRE)--U.S. pending home sales fell 5.8% from a year earlier during the four weeks ending December 14, the biggest decline since the start of 2025. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket.","length":276,"tagName":"p"},{"type":"text","content":"On a metro level, pending sales declined in all but six of the 50 most populous U.S. metro areas, with the biggest drops in San Jose, CA (-35.1% year over year), Houston (-20.9%), and Oakland, CA (-17.6%).","length":205,"tagName":"p"},{"type":"text","content":"The typical U.S. home that does sell is taking 52 days to go under contract, about a week longer than last year.","length":112,"tagName":"p"},{"type":"text","content":"House hunters are hesitant this holiday season because mortgage rates are stubbornly sitting above 6%, and home-sale prices are rising, putting homes out of reach for many would-be buyers. Additionally, many prospective buyers are waiting for clearer signals on the economy before they make a major purchase; some are concerned about job security amid signals of weakness in the labor market. Another reason pending sales are declining year over year: Sales increased around this time last year after the uncertainty leading up to the 2024 presidential election had passed.","length":573,"tagName":"p"},{"type":"text","content":"Slow homebuying demand is pushing would-be sellers to the sidelines, too. New listings are down 3.1% year over year, the biggest decline in more than two years. The total number of homes for sale is up just 4.2%, the smallest increase since the start of 2024. Many prospective sellers are reluctant to list their home while the market is tilting toward buyers, with some waiting until the new year to see if demand improves.","length":424,"tagName":"p"},{"type":"text","content":""Mortgage rates are buyers’ biggest concern. They want to make sure they’re not paying too much every month," said Tracy Edwards, a Redfin Premier agent in Raleigh, NC. "My advice to sellers is to carefully consider the buyer’s perspective: If a buyer is taking on a high monthly payment, they...