Delistings are rising as sellers are pulling back from the market in response to a lack of offers from buyers, primarily due to continued affordability challenges, according to the latest data from Realtor.com®.
Realtor.com’s Monthly Housing Trends Report for November found that delisitings have risen 45.5% year to date and 37.9% year-over-year, which are the highest rates seen since the metric started being tracked by the company in 2022. Essentially, for every 100 new listings brought to market, 27 homes were removed. While this was not a major increase from August, it is up from 20 (per 100) in October 2024.
On the other end of the spectrum, the report also noted a rise in “refuge markets,” where buyers are able to locate pockets of affordability. These specific markets are seeing a rise in price per square foot due to their affordability, as prices remain below national and regional medians. The top five include Grand Rapids, Michigan; St. Louis, Louisiana; Cleveland, Ohio; Milwaukee, Wisconsin and Pittsburgh, Pennsylvania.
Danielle Hale, chief economist at Realtor.com, said in a statement that the “rising delistings and the growth of refuge markets capture the push and pull defining today’s housing market.”
“A number of sellers are retreating after listing if the market doesn’t meet their price expectations, while buyers are strategically redirecting to the metros that remain affordable,” she continued. “These dynamics reflect how higher rates and years of rapid price growth have rewritten the rules of engagement for both buyers and sellers.”
The report also observed a slight shift in the median home price, falling 2.2% month-over-month and 0.4% year-over-year to $415,000. The median list price per square foot also decreased to $222, down 1.2% month-over-month and 1% year-over-year.
In terms of inventory, active and new listings both decreased month-over-month by 2.5% and 14.4%, respectively. However, both metrics remain up year-over-year by 12.6% and 1.7%, respectively. The yearly rise in active listings marks the 25th consecutive month of annual inventory gains. Inventory also remained above 1 million for the seventh straight month, though still 11.7% below 2017-2019 norms.
“As we move into 2026, gradual improvements in affordability and more consistent inventory will be key to unlocking a more balanced market,” concluded Hale.
