Reading: Sellers Pulling Homes Off Market Hits Highest Share Since March 2020

Sellers Pulling Homes Off Market Hits Highest Share Since March 2020

Published
2 min read
Advertisement

Home sellers pulled 5.8% of U.S. listings off the market in April, matching for the highest share since . It was a sign that some owners no longer liked the price, the pace or the prospects for a sale.

That is why the data is drawing attention now: the rate has climbed back to a level not seen since the early pandemic period, when buyers and sellers were navigating a far more chaotic housing market. Higher mortgage rates, expensive gas and shaky consumer confidence were cited as reasons some sellers chose to step back rather than cut their asking price.

Atlanta saw the sharpest pullback, with 10.7% of homes taken off the market in April. San Jose followed at 9.3%, while Los Angeles and Dallas each came in at 7.8%, and Seattle was close behind at 7.7%. Those markets point to a housing slowdown that is hitting some metro areas harder than others.

- Advertisement -

But the national figure masks a more uneven picture. Pittsburgh had the lowest delisting rate in April at 3.5%, while Columbus and Chicago were at 3.6%, Cincinnati at 3.7% and New Brunswick, New Jersey, at 4.4%. The gap shows that even as sellers pulling homes off market became more common nationwide, some places were still far less willing to quit on a listing.

The broader comparison is stark: April’s 5.8% matched December for the highest nationwide share since March 2020, when 6.3% of listings were pulled. What remains unclear is how many homes were delisted in total and how much of April’s jump came from rates, gas prices or fading confidence, but the pattern is clear enough for sellers to notice.

Advertisement
Share This Article