New Home Listings Increase, Albeit Slowly: Report

U.S. seniors are opting for renting like never before.

A For Sale sign in Washington on May 19, 2025. Madalina Vasiliu/The Epoch Times

New listings of U.S. homes for sale went up 2.5 percent annually, according to a new report by real estate brokerage Redfin published on June 26.

However, the increase in listings was the “smallest increase in five months,” and on a local level, new listings are falling in 20 of the 50 most populous U.S. metro areas, said Redfin, indicating a momentum pullback in the housing market.

The brokerage noted there were more buyers than sellers, and that the market was tilting in favor of buyers in much of the country. This has led to fewer sellers entering the fray, leading to a decline in listings’ uptick.

“Understandably, sellers want to get as much money as they can. Some homeowners feel they missed the prime selling window; many people who don’t need to sell right now are holding off, either staying put or trying to rent out their house,” said Kathy Scott, a Redfin Premier agent in Phoenix.

High home prices and elevated mortgage rates have contributed to lower home sales. The 30-year fixed rate, backed by Freddie Mac, is at 6.81 percent for the week ending June 18. The rate has not gone below 6.60 percent registered on Dec. 12, 2024.

Mortgage rates are significantly influenced by interest rates, and the Federal Reserve has held back from cutting rates.

Meanwhile, the median sale price has reached an all-time high of $400,266, while the asking price is $422,250 for the four weeks ending June 22. At the present rate, the monthly mortgage payment comes to $2,820, said the Redfin report.

There were 102,593 new listings, and nearly 1.2 million active listings, with 4.1 months of supply available.

US Seniors Renting Homes

Based on an analysis by the renting platform Point2Homes, renting has become more common among older citizens, compared to a decade ago.

“More seniors are stepping away from the burdens of homeownership (such as property taxes, repairs, and the complexities of downsizing) and, instead, using home equity or retirement savings to support alternative living arrangements,” stated a Point2Homes report published on June 17.

While some rent to move closer to family, others are downsizing to cut costs while providing flexibility to work.

“When comparing renters aged 65 and older across 10 years, seniors not only experienced the highest net growth in renting (+2.4 million), but also the largest percentage jump of any age group (just shy of 30 percent). The only other cohort to see an increase in rentership was adults aged 55 to 64, and even this growth was five times smaller than that of seniors,” the report stated.

Florida remains a top spot for renting seniors.

More than 33 percent of baby boomers who are homeowners said they will never sell their homes, Redfin said in a June 18 statement detailing the results of a survey.

“Another 30 percent say they’ll sell their home at some point, but not within the next decade,” the report stated. As for older people, the survey revealed that they are even less likely to sell than baby boomers. Nearly 45 percent of the Silent Generation do not plan to sell their residential properties.

According to the National Association of Home Builders (NAHB), home buyers remain hesitant due to interest rates and economic uncertainties.

“Housing affordability conditions have pushed more buyers to the sidelines, as reflected in our latest builder survey,” said Buddy Hughes, NAHB chairman, in a June 25 report. “Despite the use of builder sales incentives, including 37 percent of home builders reporting cutting prices in the recent NAHB survey, the housing market has slowed.”

NAHB numbers point to a rise in new single-family home inventory. There were 507,000 residences marketed for sale as of May, a 1.7 percent increase from April, over 8 percent increase annually.