Podcast Summary

Podcast: Your Money Minute (CNBC)
Episode: Homes For Sale Inventory Shrinking Rapidly
Air Date: December 16, 2025
Host: Peter Schacknow

Overview

This rapid-fire episode of Your Money Minute focuses on the dramatic and unusual decline in homes for sale during 2025. Host Peter Schacknow, with input from industry experts, explains why home listings are dropping, what’s driving sellers to pull back, and the potential outlook as experts watch mortgage rates and economic uncertainty.

Key Discussion Points & Insights

1. Unprecedented Home Delistings Surge

• Seasonal Trend Exacerbated
  • "It's not unusual for home sale listings to drop off during the autumn months as unsuccessful sellers prepare for the usually slow winter season in the housing market. But what's happening this year is far from usual." (Peter Schacknow, 00:04)
  • Home sale delistings are up 45.5% year-to-date, a sharp increase compared to 38% the previous year.
• Elevated Delistings Persisting
  • Delistings began rising in June and have sustained for five consecutive months.
  • "About 6.6 percent of active listings have been coming off the market each month, which is typically only seen in the dead of winter." (Peter Schacknow, 00:22)

2. Drivers Behind the Shrinking Inventory

• Economic & Market Uncertainty
  • Unstable economic conditions and persistently high mortgage rates are significant deterrents.
  • Prices remain "so pricey"—housing affordability continues to be a challenge.
• Peter Schacknow introduces Diana Olich and Ryan Serhant for expert perspective:
  • "Why is it happening? Well, uncertainty in the economy, stagnant and still high mortgage rates and a so pricey housing market..." (Peter Schacknow, 00:40)

3. Expert Perspective: Ryan Serhant

• Real Motivations of Sellers
  • "It's not because people aren't getting the prices that they don't like or because they don't have another place to... it's because it's too expensive to sell and you have some seasonality that's coming back too, right? And a little bit of ego. There's a little bit of 'I'm not going to get my 2021 Covid price that I'm not going to sell.'" (Ryan Serhant, 00:54)
  • Key Insight: Sellers are reluctant to accept lower prices than those seen at the pandemic peak, reinforcing low inventory.
  • The combination of financial, seasonal, and emotional/psychological factors (ego, price expectations) play a role.

4. Outlook for 2026

• Potential for Improvement
  • "Realtor.com is predicting an improvement in the new year as mortgage rates potentially come down." (Peter Schacknow, 01:12)
  • If rates fall, there’s hope for more inventory and increased market activity.

Notable Quotes

• Peter Schacknow (00:04):
  "It's not unusual for home sale listings to drop off during the autumn months as unsuccessful sellers prepare for the usually slow winter season in the housing market. But what's happening this year is far from usual."

• Peter Schacknow (00:22):
  "About 6.6 percent of active listings have been coming off the market each month, which is typically only seen in the dead of winter."

• Ryan Serhant (00:54):
  "It's not because people aren't getting the prices that they don't like or because they don't have another place to...it's because it's too expensive to sell and you have some seasonality that's coming back too, right? And a little bit of ego. There's a little bit of 'I'm not going to get my 2021 Covid price that I'm not going to sell.'"

• Peter Schacknow (01:12):
  "Realtor.com is predicting an improvement in the new year as mortgage rates potentially come down."

Timestamps for Key Segments

• 00:00: Show opens, context for seasonal listing declines
• 00:22: Data on delistings and market comparison
• 00:40: Causes explored: economy, mortgage rates, “pricey” market
• 00:54: Ryan Serhant’s commentary on seller motivations and market psychology
• 01:12: Outlook for 2026 and possible improvement if rates fall

Tone and Language

The episode delivers insights in a concise, factual, and slightly urgent tone—mirroring the fast-changing and tense atmosphere in the housing market. The use of expert quotes and grounded data gives listeners both context and take-home wisdom in under 60 seconds.