Home sellers are increasingly withdrawing their listings from the market rather than accepting lower prices. Delistings rose 47% nationwide in May compared to the previous year, with a year-to-date increase of 35%. This trend coincides with a 28% increase in active inventory and an 8.8% rise in newly listed homes compared to a year ago. Notably, delistings are occurring at a rate of 13 for every 100 new listings in May, indicating a preference for sellers to wait rather than negotiate down from their price expectations, particularly in the South and West regions.
"Unlike past housing cycles where falling prices pressured underwater homeowners to sell, today's homeowners benefit from record-high levels of home equity, so they have the flexibility to wait it out."
"With median list prices essentially unchanged over the past two years, it's clear that many sellers remain anchored to peak-era expectations."
Collection
[
|
...
]