Last year’s housing market wasn’t defined by a lack of buyers.
It was defined by seller hesitation.
Across markets nationwide, tens of thousands of listings expired, were canceled, or were withdrawn. Many agents looked at those outcomes and assumed failure. But when you step back and examine what actually happened, a very different story emerges.
These weren’t sellers who gave up.
They were sellers who paused.
Who Are These Withdrawn Sellers... Really?
We’ve spent time investigating these withdrawn properties, and the data points to a clear pattern: the majority of them are owner-occupants.
These are:
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Move-up buyers waiting for better clarity
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Move-down buyers reassessing timing
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Families delaying a relocation
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Homeowners who still need to sell… because they still need to buy
That distinction matters.
Because when a homeowner wants to sell and buy, every withdrawn listing isn’t one missed transaction, it’s two transactions waiting to happen.
What the Data Is Telling Us Now
If this thesis is correct, we should see it reflected in current market behavior. And we are.
In just the first few weeks of the year, nearly 80,000 homes that came off the market last year have already returned. Projections still point toward roughly 10% more inventory as we move forward.
But here’s the more important signal:
While overall inventory remains slightly below recent years, weekly pending home sales are already running about 8% higher than this time last year.
That combination matters.
The growth scenario in housing happens when relistings rise and pending sales rise together. It’s a sign that sellers are re-engaging and buyers are absorbing supply more efficiently.
This isn’t noise.
It’s a roadmap.
Why Expired and Canceled Listings Matter More Than Ever
For real estate agents, this creates a clear opportunity.
The sellers who withdrew last year, especially those who have not yet relisted, are often the most motivated and the least understood group in the market. They’ve already raised their hand once. They’ve already tried. And they’re still unresolved.
Expired listings aren’t cold leads.
They’re unfinished conversations.
I built the first decade of my career listing and selling expired homes in a market where I knew no one. No sphere. No shortcuts. That approach became a foundation pillar, and it remains one today for my team and for the agents and teams I coach.
The agents who succeed in this next cycle won’t wait for these homes to reappear online. They’ll be the ones who reach out early, lead with clarity, and help sellers make smarter decisions the second time around.
The Opportunity for Agents Willing to Act
This moment favors agents who understand both the data and the human behavior behind it.
Sellers didn’t disappear.
They delayed.
And as relistings continue to climb into spring, with pending sales rising alongside them, the opportunity for agents who pursue expired and canceled listings proactively will only grow.
If you want to see a real case study that breaks down how expired listings convert, what works, what doesn’t, and how to approach these conversations today, DM “CASE STUDY” and I’ll send it right over.
