Sellers slam the brakes; new listings fall to record low for August
Zillow (NYSE:ZG) reports a significant shift in the housing market dynamics for August 2025, with new listings hitting a record low. The market shows signs of balancing between buyers and sellers, with home value appreciation flattening to 0% year-over-year. While total inventory is up 15.3% year-over-year, it decreased 1.3% month-over-month due to sellers' retreat.
The typical home now takes 27 days to sell, a week longer than last year. Price cuts have moderated to 26% of listings, down from July's peak of 27%. Regional variations are stark, with the South becoming more buyer-friendly while the Northeast and San Francisco Bay Area remain seller-friendly markets.
The report highlights significant regional differences, with markets like Miami, Tampa, and Austin offering more inventory than pre-pandemic levels, while areas like Buffalo, Hartford, and San Francisco maintain strong seller advantages due to limited supply.Zillow (NYSE:ZG) segnala un cambiamento significativo nelle dinamiche del mercato immobiliare per agosto 2025, con nuove proposte all"o minimum storico. Il mercato mostra segnali di equilibrio tra acquirenti e venditori, con l"apprezzamento del valore delle case che si stabilizza al 0% su base annua. Sebbene l"inventario totale sia aumentato del 15,3% su base annua, è diminuito del 1,3% mese su mese a causa del ritiro dei venditori. La casa tipica ora richiede 27 giorni per essere venduta, una settimana in più rispetto all"anno scorso. I tagli dei prezzi si sono moderati al 26% delle inserzioni, in calo rispetto al picco di luglio del 27%. Le variazioni regionali sono marcate, con il Sud che diventa più favorevole agli acquirenti mentre il Northeast e la Bay Area di San Francisco restano mercati favorevoli ai venditori. Il rapporto evidenzia differenze regionali significative, con mercati come Miami, Tampa e Austin che offrono più inventory rispetto ai livelli pre-pandemia, mentre aree come Buffalo, Hartford e San Francisco mantengono forti vantaggi per i venditori a causa di offerta limitata.
Zillow (NYSE:ZG) informa de un cambio significativo en la dinámica del mercado de la vivienda para agosto de 2025, con nuevas entradas alcanzando un mínimo histórico. El mercado muestra signos de equilibrarse entre compradores y vendedores, con la apreciación del valor de las viviendas aplanándose al 0% interanual. Aunque el inventario total sube un 15,3% interanual, descendió un 1,3% mes a mes debido al retiro de vendedores. La casa típica ahora se vende en 27 días, una semana más que el año pasado. Los recortes de precios se moderaron a 26% de los anuncios, por debajo del máximo de julio del 27%. Las variaciones regionales son marcadas, con el Sur siendo más favorable para los compradores, mientras que el Noreste y la Bahía de San Francisco siguen siendo mercados favorecedores para los vendedores. El informe destaca diferencias regionales significativas, con mercados como Miami, Tampa y Austin que ofrecen más inventario que los niveles previos a la pandemia, mientras áreas como Buffalo, Hartford y San Francisco mantienen ventajas sólidas para los vendedores debido a la oferta limitada.
Zillow (NYSE:ZG)는 2025년 8월 주택시장 역학에 중대한 변화를 보고하며, 신규 매물이 기록적 저점을 기록했습니다. 시장은 매수자와 매도자 사이의 균형으로 기울어지는 조짐을 보여주며, 주택 가치 상승률이 연간 0%로 평준화되고 있습니다. 총 재고는 연간 15.3% 증가했지만 매도자의 이탈로 인해 월간으로는 1.3% 감소했습니다. 일반 주택의 매매 소요 기간은 현재 27일로, 작년보다 1주일 더 걸립니다. 가격 인하율은 리스트의 26%로 완화되었으며, 7월의 정점인 27%에서 떨어졌습니다. 지역별 차이가 뚜렷하며 남부는 매수자 친화적으로, 반면 동북부와 샌프란시스코 베이 에어는 여전히 매도자 친화적입니다. 이 보고서는 마이애미, 탬파, 오스틴과 같은 지역이 팬데믹 이전 수준보다 더 많은 재고를 제공하는 반면, 버팔로, 하트포드, 샌프란시스코와 같은 지역은 공급이 제한되어 매도자 우위를 유지하고 있음을 강조합니다.
Zillow (NYSE:ZG) signale un changement significatif dans les dynamiques du marché immobilier pour août 2025, avec de nouvelles inscriptions atteignant un creux historique. Le marché montre des signes d'équilibre entre acheteurs et vendeurs, l'appréciation des valeurs immobilières se stabilisant à 0% sur une base annuelle. Bien que l'inventaire total soit en hausse de 15,3% sur un an, il a diminué de 1,3% mois sur mois en raison du retrait des vendeurs. La durée moyenne pour vendre une maison est désormais de 27 jours, soit une semaine de plus que l'année dernière. Les réductions de prix se modèrent à 26% des annonces, en dessous du pic de juillet à 27%. Les variations régionales sont marquées, le Sud devenant plus favorable aux acheteurs alors que le Nord-Est et la Bay Area de San Francisco restent des marchés favorables aux vendeurs. Le rapport met en évidence des différences régionales importantes, des marchés comme Miami, Tampa et Austin offrant plus d'inventaire que les niveaux pré-pandémiques, tandis que des zones comme Buffalo, Hartford et San Francisco maintiennent de forts avantages pour les vendeurs en raison d'une offre limitée.
Zillow (NYSE:ZG) meldet eine signifikante Verschiebung der Dynamik des Wohnungsmarkts im August 2025, wobei neue Inserate ein Rekordtief erreichen. Der Markt zeigt Anzeichen einer Balance zwischen Käufern und Verkäufern, während die Wertsteigerung von Immobilien auf 0% Year-over-Year abflacht. Während das Gesamtinventar im Jahresvergleich um 15,3% gestiegen ist, sank es monatlich um 1,3% aufgrund des Rückzugs der Verkäufer. Die typische Immobilie benötigt jetzt 27 Tage zum Verkauf, eine Woche länger als im letzten Jahr. Preisnachlässe haben sich auf 26% der Inserate moderiert, unter dem Juli-Hoch von 27%. Regionale Unterschiede sind deutlich, der Süden wird käuferfreundlicher, während der Nordosten und die San Francisco Bay Area nach wie vor vermarkt werden, die Verkäufer bevorzugt. Der Bericht hebt signifikante regionale Unterschiede hervor, wobei Märkte wie Miami, Tampa und Austin mehr Inventar bieten als vor der Pandemie, während Gebiete wie Buffalo, Hartford und San Francisco aufgrund begrenzter Angebote starke Verkäufervorteile behalten.
تُظهر Zillow (رمزها في البورصة: ZG) تحوّلاً هاماً في ديناميكيات سوق الإسكان لشهر أغسطس 2025، حيث تصل القوائم الجديدة إلى أدنى مستوى تاريخي. يبدو أن السوق يتوازن بين المشترين والبائعين، مع تراجع قيمة المنازل إلى 0% على أساس سنوي. بينما ارتفع إجمالي المخزون بنسبة 15.3% على أساس سنوي، انخفض بمقدار 1.3% شهرياً بسبب تراجع البائعين. تستغرق العملية المعتادة لبيع المنزل الآن 27 يوماً، وهو أسبوع إضافي مقارنة بالعام الماضي. تخفيضات الأسعار تراجعت إلى 26% من القوائم، بانخفاض عن الذروة في يوليو البالغة 27%. الفروق الإقليمية صارخة، فجنوب الولايات المتحدة أصبح أكثر ملاءمة للمشترين في حين يظل الشمال الشرقي ومنطقة الخليج حول سان فرانسيسكو أسواق لصالح البائعين. يبرز التقرير فروقاً إقليمية كبيرة، مع أسواق مثل ميامي وتامبا وأوستن التي تقدم مخزونا أكبر من مستويات ما قبل الجائحة، بينما محافظات مثل بوفالو وهارتفورد وسن فرنسيسكو تحافظ على مزايا بارزة للبائعين بسبب العرض المحدود.
Zillow（纽约证券交易所代码：ZG）报告显示，2025年8月的住房市场动态发生显著变化，新房源数量达到历史新低。市场呈现买卖双方趋于平衡的迹象，房价同比涨幅收敛至0%。尽管总库存同比增长15.3%，但由于卖家撤出，环比下降1.3%。典型房屋现在需要27天才能售出，比去年多一周。降价幅度降至26%的挂牌比例，低于7月的峰值27%。区域差异显著，南部市场对买家更友好，而东北部和旧金山湾区仍然是卖家市场。报告强调了显著的区域差异，迈阿密、坦帕和奥斯汀等市场的库存水平高于疫情前，而布法罗、哈特福德和旧金山等地区由于供应有限，继续对卖家有利。
- Market is balancing between buyers and sellers, showing signs of normalization
- Total housing inventory increased 15.3% year-over-year, providing more options for buyers
- Price cuts on listings remain elevated at 25.8%, offering negotiation opportunities
- Mortgage rates are lower compared to recent years, improving affordability
- New listings reached a record low for August, limiting fresh inventory
- Home sales are taking longer, with median days to pending increasing to 27 days
- Home value appreciation has flatlined at 0% year-over-year
- Several major markets showing significant home value declines (Tampa -6.5%, Austin -5.8%, Miami -4.9%)
Insights
Zillow's data shows market rebalancing as sellers retreat despite elevated inventory, halting buyer momentum gains in a notably slow August.
The August housing market data reveals a significant strategic shift in seller behavior that's disrupting what had been a strengthening buyer's market. New listings dropped to a record low for August, with the
The slowdown in seller activity appears to be a direct response to cautious buyer behavior, evidenced by homes taking 27 days to find buyers (7 days longer than last year). What's particularly telling is the divergence from normal seasonal patterns - competition actually ticked up slightly in late summer when it typically declines, suggesting the market may be finding an equilibrium point.
The national data masks significant regional variations creating two distinct market environments. Southern markets and pandemic boomtowns like Miami (
The moderation in price cuts (down to
Buyers' competitive momentum halts as sellers respond to slower sales
- Market momentum shifts: Buyers' recent run of gaining leverage is cut short.
- Price cuts ease from peak: The share of listings with a price cut moderated to
26% , down from the all-time high of27% in July. - Inventory high but shrinking: While total for-sale inventory is up
15% year-over-year, it fell month-over-month as the flow of new listings slowed to a trickle.
Buyers still in the market have plenty of opportunity, especially in areas seeing inventory hold strong. But competitive momentum that has been swinging fast in buyers' favor in recent months is showing signs of stopping nationwide.
"Buyers who can afford a home and have been waiting for the right moment should look closely at what's available now," said Zillow Senior Economist Kara Ng. "Options are on the shelves, even if they're not all fresh. Sidelined buyers should revisit their budget; mortgage rates are lower than recent years, and in some markets, sellers are more willing to deal. But don't expect this window of opportunity to stay open indefinitely. Buyers' leverage is easing as many sellers put their plans to list on hold."
Market dynamics: Sellers respond to cautious buyers
High housing costs continue to sideline many prospective buyers, making it easier for those still in the hunt. Zillow's market heat index shows the market is balanced between buyers and sellers nationwide, with less competition among buyers than in any August since 2018.
As a result, home value appreciation has slowed to a standstill. Typical home value growth nationwide measured by Zillow's Home Value Index is now flat over the past year — the second-slowest annual growth of any month since the start of 2018.
Listings are taking longer to sell, too. The typical home sold in August took 27 days to find a buyer — a full week longer than last year and one day longer than pre-pandemic norms. But contrary to typical seasonal trends, competition ticked back up slightly in late summer.
Homeowners have responded to buyers' caution by pushing pause on listing plans. New listings from sellers reached a record low for August in Zillow records, and the
Potential sellers are probably comfortable with their home for the present, likely enjoying a low mortgage rate and significant equity growth: Typical home values nationwide are up
According to Zillow's latest survey of recent sellers,
Regional divides: A tale of two markets
National trends mask significant regional differences, where shifts in supply have impacted competition.
- Buyer-friendly markets: Buyers have the most leverage in the South. Former pandemic-era hot spots such as
Miami ,Tampa ,Jacksonville , andAustin now all have more existing options on the market than before the pandemic, thanks in part to builders' efforts to meet demand.Seattle has made a surprising transition from favoring sellers to buyers over the past year — inventory that's risen22% over that time played a key role. - Seller-friendly markets: The Northeast and the
San Francisco Bay Area remain firmly in favor of sellers. Competition is strongest inBuffalo ,Hartford ,San Francisco ,San Jose , andBoston . In these supply-constrained regions, inventory remains far below pre-pandemic averages, keeping the market tilted toward sellers.
Metro Area* | Zillow Home | ZHVI Year | Share of | Market Favors | Inventory | New | Median |
0.0 % | 25.8 % | Neutral | 15.3 % | -3.0 % | 27 | ||
2.9 % | 13.7 % | Strong Seller | 7.4 % | -1.2 % | 32 | ||
-1.3 % | 23.5 % | Seller | 24.1 % | -6.0 % | 28 | ||
3.3 % | 27.7 % | Seller | -3.5 % | -7.3 % | 13 | ||
-3.9 % | 33.0 % | Neutral | 19.0 % | -5.8 % | 42 | ||
-2.0 % | 29.3 % | Neutral | 28.0 % | -5.2 % | 46 | ||
0.8 % | 26.0 % | Seller | 36.0 % | -1.0 % | 19 | ||
3.1 % | 23.2 % | Seller | 9.3 % | -3.8 % | 14 | ||
-4.9 % | 20.3 % | Buyer | 18.2 % | -12.4 % | 65 | ||
-3.2 % | 30.4 % | Buyer | 20.8 % | -9.5 % | 47 | ||
1.0 % | 19.0 % | Strong Seller | 21.0 % | 3.7 % | 21 | ||
-3.6 % | 32.0 % | Neutral | 21.5 % | -4.9 % | 42 | ||
-3.9 % | 21.6 % | Strong Seller | 9.3 % | -10.1 % | 22 | ||
-2.5 % | 23.4 % | Seller | 20.4 % | -9.9 % | 36 | ||
3.6 % | 27.1 % | Neutral | 10.2 % | 1.0 % | 13 | ||
-1.0 % | 29.4 % | Buyer | 22.1 % | -7.7 % | 23 | ||
2.0 % | 25.7 % | Seller | 8.4 % | -2.6 % | 23 | ||
-2.8 % | 29.1 % | Seller | 26.0 % | -8.1 % | 28 | ||
-6.5 % | 31.3 % | Buyer | 16.1 % | -1.1 % | 47 | ||
-3.0 % | 35.8 % | Neutral | 20.0 % | -10.7 % | 35 | ||
2.1 % | 28.3 % | Seller | 20.1 % | 0.4 % | 15 | ||
2.3 % | 25.5 % | Seller | 6.1 % | 1.7 % | 8 | ||
-4.6 % | 28.2 % | Neutral | 18.3 % | -7.3 % | 46 | ||
-0.8 % | 29.0 % | Neutral | 19.0 % | -4.5 % | 31 | ||
-3.1 % | 30.2 % | Neutral | 13.0 % | -6.5 % | 52 | ||
-1.0 % | 29.8 % | Neutral | 14.8 % | -2.4 % | 26 | ||
-2.4 % | 28.6 % | Seller | 19.6 % | -13.6 % | 27 | ||
2.0 % | 27.8 % | Neutral | 10.2 % | 6.6 % | 14 | ||
2.7 % | 29.9 % | Neutral | 14.6 % | -1.6 % | 10 | ||
-5.8 % | 28.9 % | Buyer | 14.7 % | -3.6 % | 71 | ||
-0.8 % | 28.9 % | Neutral | 34.2 % | -11.2 % | 38 | ||
2.5 % | 30.5 % | Seller | 15.5 % | 2.4 % | 9 | ||
1.4 % | 33.6 % | Neutral | 18.9 % | 1.9 % | 11 | ||
1.6 % | 34.8 % | Neutral | 13.4 % | 1.7 % | 16 | ||
4.5 % | 25.7 % | Seller | 12.7 % | 0.6 % | 10 | ||
-2.1 % | 20.1 % | Strong Seller | 10.8 % | -11.8 % | 17 | ||
-0.2 % | 32.3 % | Neutral | 21.2 % | 3.0 % | 37 | ||
1.7 % | 25.8 % | Seller | 16.0 % | -3.8 % | 29 | ||
2.5 % | 21.6 % | Strong Seller | 14.1 % | -0.5 % | 16 | ||
-3.6 % | 30.9 % | Buyer | 13.1 % | -5.4 % | 66 | ||
3.2 % | 17.4 % | Seller | 0.1 % | -5.3 % | 19 | ||
0.9 % | 29.0 % | Neutral | 15.6 % | -0.5 % | 25 | ||
-2.5 % | 35.5 % | Neutral | 40.4 % | 1.7 % | 32 | ||
-0.6 % | 28.9 % | Neutral | 4.9 % | 2.9 % | 27 | ||
1.1 % | 27.9 % | Seller | 12.2 % | -0.3 % | 15 | ||
3.5 % | 30.5 % | Neutral | 18.1 % | 8.3 % | 19 | ||
-0.1 % | 24.5 % | Buyer | 2.5 % | -5.9 % | 53 | ||
2.0 % | 36.4 % | Neutral | 22.8 % | -3.0 % | 28 | ||
4.2 % | 19.5 % | Strong Seller | 6.3 % | 2.0 % | 8 | ||
3.6 % | 21.2 % | Strong Seller | 7.2 % | 6.8 % | 11 | ||
0.3 % | 22.9 % | Neutral | 15.2 % | -2.4 % | 24 |
*Table ordered by market size |
1 The Zillow market report is a monthly overview of the national and local real estate markets. The report is compiled by Zillow Research. For more information, visit zillow.com/research. |
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FAQ
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