Rocket Companies Inc Press Release: Home Sellers Retreat as Housing Supply Dips

On December 22, 2025, Rocket Companies Inc. announced a significant downturn in the housing market through a press release highlighting data from Redfin, its technology-driven real estate brokerage. The report reveals a concerning trend for home sellers, with active listings of homes for sale experiencing a 1.4% decline month over month in November—the steepest drop since June 2023. This contraction is largely attributed to a retreat in both home sellers and buyers amidst high mortgage rates and economic uncertainty.

The press release notes that new listings also fell by 2.2% compared to the previous month, reaching the lowest level since April 2024. As buyers become increasingly cautious due to elevated mortgage rates, many sellers are opting not to list their homes. Consequently, the typical home sold in November went for 1.6% less than its final list price, marking the steepest November discount in six years.

Carlos Castillo, a Redfin Premier real estate agent based in Los Angeles, provided insights into the current market dynamics. He emphasized that sellers must price their homes competitively to attract buyers. Castillo shared an example of a recent client who successfully sold their home above the original asking price after reducing the price, illustrating the need for strategic pricing in a dwindling market. Many sellers, facing the prospect of becoming buyers themselves, are hesitant to list unless they can secure a specific price for their homes.

Pending home sales also saw a notable decline of 2.5% month over month, the largest drop since December 2024. This decline comes at a time when housing costs remain stubbornly high and economic conditions are uncertain. Existing home sales remained flat, with a seasonally adjusted annual rate of 4.27 million in November. Redfin economists project that existing home sales will end the year roughly flat compared to 2024, which is noted as the worst year for sales since 1995.

The report highlighted that homes that did sell spent an average of 53 days on the market, which is seven days longer than the previous year. This represents the slowest November pace since 2016, indicating a significant slowdown in market activity. With buyers feeling empowered to negotiate due to the imbalance between sellers and buyers, homes are taking longer to sell as buyers take their time in the decision-making process.

The press release provided a snapshot of the housing market, summarizing key statistics for November 2025:

The report also examined metro-level trends, revealing varied performance across U.S. cities. Cleveland, Detroit, and Pittsburgh saw the most significant year-over-year increases in median sale prices, while cities like Jacksonville, Oakland, and Dallas experienced the sharpest declines. Pending home sales rose notably in West Palm Beach and Miami, while San Jose and Tampa saw the largest decreases.

As Rocket Companies Inc. continues to navigate a challenging housing market landscape, the data from Redfin underscores the complexities facing both buyers and sellers. With high mortgage rates and economic uncertainty influencing market dynamics, the retreat of home sellers may indicate a prolonged period of stagnation unless conditions improve. The insights from this press release provide valuable context for stakeholders in the real estate market as they prepare for the year ahead.