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Delistings Surge Nearly 50% as Sellers Who Can’t Get Their Price Quit the Market in Frustration
invite response
2025 Jul 8, 5:10am 202 views 10 comments
Comments 1 - 10 of 10 Search these comments
2
MolotovCocktail
2025 Jul 8, 8:23am
MolotovCocktail
2025 Jul 8, 8:23am
Al_Sharpton_for_President says
But but a housing expert on PatNet posted this: https://patrick.net/post/1383080/2025-01-03-housing-prices-will-not-go-down?start=112
Even with more homeowners withdrawing their listings, buyers still have a greater number of homes to choose from than at any time since the COVID-19 pandemic.
Nationally, active listings topped 1 million for the second straight month in June, putting inventory about 13% below pre-pandemic norms, but steadily closing that gap.
Inventory grew in all four major U.S. regions in June, with the West seeing a 38% jump and the South up nearly 30%.
Every one of the top 50 metros posted active inventory gains year over year, led by Las Vegas (+77.6%) and Washington, DC (+63.6%).
Homes are also staying on the market longer, as median days on the market increased to 53 days—five days longer than a year ago and matching pre-pandemic patterns.
But but a housing expert on PatNet posted this: https://patrick.net/post/1383080/2025-01-03-housing-prices-will-not-go-down?start=112
3
HeadSet
2025 Jul 8, 8:40am
HeadSet
2025 Jul 8, 8:40am
Al_Sharpton_for_President says
Yes, especially when those looking to downsize see an increased mortgage payment. $750k at 2% has a much lower P&I than $500k at 7%. Might as well stay put.
sellers still hold a trump card: delist the home and fish for that high asking price at a later date.
Yes, especially when those looking to downsize see an increased mortgage payment. $750k at 2% has a much lower P&I than $500k at 7%. Might as well stay put.
4
MolotovCocktail
2025 Jul 8, 8:52am
MolotovCocktail
2025 Jul 8, 8:52am
HeadSet says
Are you serious?
That's just more denialism. Rates aren't gong to 2% until the Millennials flood the capital markets with their retirement savings like the Boomers did. 2035 ar the earliest.
Yes, especially when those looking to downsize see an increased mortgage payment. $750k at 2% has a much lower P&I than $500k at 7%. Might as well stay put.
Are you serious?
That's just more denialism. Rates aren't gong to 2% until the Millennials flood the capital markets with their retirement savings like the Boomers did. 2035 ar the earliest.
6
WookieMan
2025 Jul 8, 10:02am
WookieMan
2025 Jul 8, 10:02am
HeadSet says
Until people understand this and the fact most people don't HAVE to move, they WANT to move 90% of the time. It's like fishing, you cast a line out there but if you don't catch anything no biggie. Happens to every fisherman.
We're in a time period where you don't need to sell. Some try it and are whatever, I'll stay put if they got no bites. It's not indicative of anything.
Also brokers are always desperate and will over price a house to get buyer leads knowing the house won't sell. Inventory has been low for 5 years so they need buyers. That's the primary metric in RE. Everything follows that number. If it gets to 6 months plus, prices will come down. Until then some of the meaningless metric posts here are just that.
https://www.timeout.com/chicago/news/chicago-area-home-prices-are-rising-four-times-faster-than-the-rest-of-the-u-s-062725
I posted this in another housing thread. A lot of you people have not had or are in the process of an exodus from cities by millennials starting families. The current largest home buying generation. Boomers that could make their move already did. Low interest rates for almost 15 years after the bust and people aren't moving as Headset mentions. Some are testing the waters after 5-15 paying principle or even the house off. They don't have to sell. I hate gauging anything on prices but because it might be bad in your area it's not everywhere.
Florida I could see because most retirees that wanted to live there have already (mostly) been there for 10-15 years now. If builders over did it inventory will increase and prices will go down. The problem with builders is that they have to build to make money. Also not an easy thing to just relocate to a new area if you do custom and find new subs you don't know.
California has foreign buyers which I wouldn't be a fan of. So that market has a high floor, but it won't crash. The price drops will look large like $200k on a $2M house but that's really nothing in a lot of areas out there. But it drags down national data so it makes it seem like doom and gloom.
The housing crash was because of shit homes that people were not qualified for and couldn't afford. So they had to stop paying. We're not even close to that right now. The market will correct in most urban markets and coastal areas. Don't expect a 2006 again, probably in any of our lifetimes. Maybe in your neighborhood, but not nationally.
Al_Sharpton_for_President says
sellers still hold a trump card: delist the home and fish for that high asking price at a later date.
Yes, especially when those looking to downsize see an increased mortgage payment. $750k at 2% has a much lower P&I than $500k at 7%. Might as well stay put.
Until people understand this and the fact most people don't HAVE to move, they WANT to move 90% of the time. It's like fishing, you cast a line out there but if you don't catch anything no biggie. Happens to every fisherman.
We're in a time period where you don't need to sell. Some try it and are whatever, I'll stay put if they got no bites. It's not indicative of anything.
Also brokers are always desperate and will over price a house to get buyer leads knowing the house won't sell. Inventory has been low for 5 years so they need buyers. That's the primary metric in RE. Everything follows that number. If it gets to 6 months plus, prices will come down. Until then some of the meaningless metric posts here are just that.
https://www.timeout.com/chicago/news/chicago-area-home-prices-are-rising-four-times-faster-than-the-rest-of-the-u-s-062725
I posted this in another housing thread. A lot of you people have not had or are in the process of an exodus from cities by millennials starting families. The current largest home buying generation. Boomers that could make their move already did. Low interest rates for almost 15 years after the bust and people aren't moving as Headset mentions. Some are testing the waters after 5-15 paying principle or even the house off. They don't have to sell. I hate gauging anything on prices but because it might be bad in your area it's not everywhere.
Florida I could see because most retirees that wanted to live there have already (mostly) been there for 10-15 years now. If builders over did it inventory will increase and prices will go down. The problem with builders is that they have to build to make money. Also not an easy thing to just relocate to a new area if you do custom and find new subs you don't know.
California has foreign buyers which I wouldn't be a fan of. So that market has a high floor, but it won't crash. The price drops will look large like $200k on a $2M house but that's really nothing in a lot of areas out there. But it drags down national data so it makes it seem like doom and gloom.
The housing crash was because of shit homes that people were not qualified for and couldn't afford. So they had to stop paying. We're not even close to that right now. The market will correct in most urban markets and coastal areas. Don't expect a 2006 again, probably in any of our lifetimes. Maybe in your neighborhood, but not nationally.
7
HeadSet
2025 Jul 8, 11:29am
HeadSet
2025 Jul 8, 11:29am
MolotovCocktail says
Not what I am saying. I meant that folks with current 2% or so mortgages are not going to downsize when the smaller house will have a 7% mortgage with a payment higher than the house they left.
Rates aren't going to 2%
Not what I am saying. I meant that folks with current 2% or so mortgages are not going to downsize when the smaller house will have a 7% mortgage with a payment higher than the house they left.
8
Ceffer
2025 Jul 8, 12:13pm
Ceffer
2025 Jul 8, 12:13pm
Price reductions seem routine now around Santa Cruz. Immigrant effect? The immigrant hotel across from where we live seems to have few residents these days.
In California, capital gains on appreciation reach up to total federal and state 36 percent (on residuals if one uses the 500,000 couples' exemption) depending on income and whether you apply your gains into another home. In addition to ongoing draconian taxations, that big lump of appreciation goes right back into the maws of the KommieKunts stealing the elections.
In California, capital gains on appreciation reach up to total federal and state 36 percent (on residuals if one uses the 500,000 couples' exemption) depending on income and whether you apply your gains into another home. In addition to ongoing draconian taxations, that big lump of appreciation goes right back into the maws of the KommieKunts stealing the elections.
10
MolotovCocktail
2025 Jul 9, 8:41am
MolotovCocktail
2025 Jul 9, 8:41am
MolotovCocktail says
https://wolfstreet.com/2025/07/08/inventories-of-homes-for-sale-in-big-california-markets-jump-to-highest-in-years-median-days-on-the-market-soar-demand-withered/
But but a housing expert on PatNet posted this: https://patrick.net/post/1383080/2025-01-03-housing-prices-will-not-go-down?start=112
https://wolfstreet.com/2025/07/08/inventories-of-homes-for-sale-in-big-california-markets-jump-to-highest-in-years-median-days-on-the-market-soar-demand-withered/
Delistings jumped 47% nationally in May from a year earlier, in a sign that sellers would increasingly rather wait than negotiate, according to the Realtor.com® economic research team's latest monthly housing trends report. Year to date, delistings are up 35% from the same period in 2024.
The increase is partly due to the overall expansion in active inventory, which was up 28% in June from a year earlier. Newly listed homes increased 8.8% from a year ago, but remained flat over the past two months.
Still, delistings are outpacing new listings, with 13 homes delisted in May for every 100 homes hitting the market—up from 10 in the spring of 2024 and 2023, and just six in 2022.
The increase in delistings follows a surge in price reductions, as some sellers with unrealistic price expectations faced a softer market with limited buyers. Now, it seems that some sellers would rather wait out the market than accept a lower price for their home.
"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," says Realtor.com senior economist Jake Krimmel. "This allows many sellers to withdraw their homes from the market if their asking price isn't met."
The trend is especially noticeable in the South and West, where inventory has surged back above pre-pandemic levels, and prices are flat or falling.
Phoenix led the nation in delistings in May, with 30 homes pulled from the market for every new home listed. (Delisting data is reported with a one-month lag in order to determine whether a delisted home was actually sold or truly delisted.)
"With median list prices essentially unchanged over the past two years, it’s clear that many sellers remain anchored to peak-era expectations," says Krimmel. "While the market may be becoming more buyer-friendly, sellers still hold a trump card: delist the home and fish for that high asking price at a later date."
Phoenix also leads in price reductions, with 34% of all listings there carrying a price cut in June. Austin, TX, and Denver followed closely in price-reduced share.
Nationally, 20.6% of home listings had price reductions in June—up 2.2 percentage points from last year. This is the highest June share in Realtor.com data going back to at least 2016.
Even with more price cuts, the national median list price held steady at $440,950 last month, up 0.1% from last year, underscoring that many sellers are still expecting to get peak-era prices.
Among large metros, the biggest year-over-year median price increases were in Baltimore (+6.8%), Virginia Beach, VA (+5.8), and Grand Rapids, MI (+5%).
The metros with the biggest year-over-year median price declines were Cincinnati (-5%), Sacramento, CA (-4.8%), and Miami (-4.7%).
"This year’s market is a study in contrasts," says Danielle Hale, chief economist of Realtor.com. "Buyers are seeing more choices than they’ve had in years, but many sellers, anchored by peak price expectations and upheld by strong equity positions, are deciding to step back if they don’t get their number.
"Looking forward, this dynamic will affect whether we tip from a balanced to buyer's market, and if so, how quickly that happens," she adds.
Inventory hits new post-pandemic high
Even with more homeowners withdrawing their listings, buyers still have a greater number of homes to choose from than at any time since the COVID-19 pandemic.
Nationally, active listings topped 1 million for the second straight month in June, putting inventory about 13% below pre-pandemic norms, but steadily closing that gap.
Inventory grew in all four major U.S. regions in June, with the West seeing a 38% jump and the South up nearly 30%.
Every one of the top 50 metros posted active inventory gains year over year, led by Las Vegas (+77.6%) and Washington, DC (+63.6%).
Homes are also staying on the market longer, as median days on the market increased to 53 days—five days longer than a year ago and matching pre-pandemic patterns.
https://www.realtor.com/news/trends/delistings-home-seller-june-trends-report/