1 in 2 homes spent at least 60 days on market in February 

Many sellers appear to be holding firm on how much they want to sell their home for — a determination that is showing up in the form of stale listings.

A new report from Redfin estimates that more than half of home listings in February were on the market for 60 days or longer without going under contract. At 52.2%, this is the highest share for the month of February since 2019.

Two main factors: Weak homebuying demand and persistent home price increases. "Sellers know it's a buyer's market, but they still want to get as much money as they can for their home," said Jason Gale, a Redfin Premier agent in New Orleans, in a news release accompanying the report. 

"So they list on the high end, expecting buyers to negotiate down, and that's leading to listings staying on the market for a long time," Gale added. "There are still deals to be made, but nine times out of 10, homes are selling for under their asking price."  

South leads the way: The strongest buyers markets tend to account for the highest shares of stale listings. In Miami, nearly 2 in 3 home listings (62.6%) were considered stale, followed by San Antonio (58.3%), Pittsburgh (58.1%) and West Palm Beach, Florida (55.9%).

The markets with the lowest shares of stale listings are along the West Coast, with the top three in California. San Francisco has the lowest share at 24%, followed by Oakland (31.1%) and Anaheim (34%). Seattle is fourth at 34.1%.

The risk of a 'price high' strategy: Sellers may think that listing a home at a price above the current market rate could get them the best possible deal even with a price reduction. Just last spring, a Realtor.com survey found that 81% of potential sellers believed they would be able to get their asking price — or more — if they listed their home in 2025.

But a stale listing can also raise red flags among buyers and create a situation where a home needs to be taken off the market and relisted later, Realtor.com economists have warned. The uptick in price reductions seen last year "suggests that a lot of sellers are anchored to prices that aren't realistic in today's housing market," Realtor.com Chief Economist Danielle Hale said in a May 2025 report, adding that sellers "would be wise to listen to feedback they are getting from the market."

Estimated value of stale listings: The U.S. housing market had a near record amount of inventory for the month of February in terms of home value, according to Redfin's latest report. Home sellers were sitting on an estimated $636.4 billion in total for the month, with about $347 billion of that coming from stale listings.

Though down slightly from a year ago, the total is still well above any recorded for the month of February since Redfin began collecting this data in 2012, with the total inventory value hovering around $400 billion in recent years.