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Business News

Sellers Are Hitting the Brakes as the Housing Market Loses Its Spark

Home sellers are quietly slipping out the side door as buyer demand cools, prices soften, and the economy gives everyone a mild case of “maybe later.” Nearly 85,000 sellers yanked their listings in September, a sharp jump from last year and the highest for that month in eight years, according to Redfin. With 70 percent of homes sitting on the market for 60 days or more, many owners would rather wait it out than settle for a bargain-bin offer. Price cuts are happening, but even those are stacking up to record levels, Zillow says. And now that the market is drifting into its slowest season, many of these homes won’t resurface until spring. Even with inventory technically higher than last year, delistings are tightening the real supply and keeping prices propped up. A surprising share of sellers who bought recently are staring at potential losses, adding to the retreat. Pending sales did inch up in October thanks to a brief dip in mortgage rates, but overall buyer energy still feels… well, pretty seasonal.

Kohl’s Resets Leadership to Push for Growth

Kohl’s has officially appointed Michael Bender as its permanent CEO, marking the retailer’s third leadership change in just three years as it works to revive slowing sales. Bender, who has served on the board since 2019, took over as interim CEO in May after the company dismissed Ashley Buchanan following an internal investigation into inappropriate vendor relationships. His appointment comes on the eve of Kohl’s quarterly earnings release and during a period of ongoing sales declines, with the company expecting a 5 to 6 percent drop this fiscal year. Bender brings decades of retail experience from roles at Victoria’s Secret, Walmart, and Eyemart Express, and will continue serving on the board. Kohl’s board chair said the company conducted an extensive search and called Bender the clear choice to guide the brand forward. Bender described the retailer’s turnaround as being in the “middle innings,” noting customers remain excited but cautious with spending. While Kohl’s shares have tumbled over the past five years, they have posted modest gains this year as the company pushes for stability under its new leadership.

What We’re Reading

The Out-of-Office Playbook: Perspectives, Processes, and Tools for Managing Time Off from Work

When vacation calendars fill up and inboxes overflow, how do high-performing teams keep projects moving forward? This eBook reveals proven tactics to manage workloads, maintain momentum, and ensure nothing slips through the cracks during even the busiest of out-of-office seasons.

Don’t let out-of-office season slow you down.

Download this eBook to learn how connected, collaborative workspaces and modern communication tools make restful time off possible for everyone.

Key takeaways:

• Learn how to build a repeatable system to keep your team aligned—even when key players are away.

• Discover ways to empower teams with clear communication and async updates to minimize burnout and boost resilience.

• See how AI-powered apps help you catch up fast, so coming back to work is a breeze, not a burden.

Tip of the Day

Focus on what drives revenue first

Prioritize the tasks and projects that directly increase sales or customers.