More homeowners are pulling their listings from the market, signaling growing frustration with deals not materializing.
According to new data from Realtor.com, delistings surged 47% in May compared to a year earlier.
"This year's market is a study in contrasts," said Danielle Hale, chief economist at 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."
The report highlights Phoenix, Miami and Riverside, California, as markets where listings are most likely to be pulled when sellers don’t see the interest they expect.
Experts say the trend marks a notable shift from the frenzied pace of recent years.
“The market has clearly shifted from the urgency and intensity of recent years, and today’s homeowners are having to recalibrate their expectations,” said Anthony Djon, founder of Anthony Djon Luxury Real Estate.
The median list price for a home in the United States is now $440,950, according to Realtor.com. Homes are sitting on the market a median of 53 days, which is five days more than at the same time in 2024.
