Home delistings surged to a nine-year high in December, with 73,000 listings pulled off the market, according to CoreLogic data. This marks a significant increase of 64% from last year, indicating a wide mismatch between supply and demand.
The surge in home inventory has left homeowners with little choice but to delist their properties. The number of homes for sale reached 1.15 million in December, a 16% jump from the previous year, according to the National Association of Realtors. However, demand remains weak due to high mortgage rates and stagnant home prices.
The situation is worsened by the fact that new homes are also experiencing low demand. In December, completed homes ready for occupancy increased by 46%, but this has yet to translate into sales. As a result, homeowners are pulling their listings off the market in hopes of improving conditions come spring when more buyers emerge.
With supply outweighing demand, delistings have become an attractive option for sellers who want to avoid selling at below-market prices. As we head towards spring, it’s likely that more sellers will put their homes back on the market.
Source: https://fortune.com/2025/02/16/home-delistings-highest-decade-housing-market-supply-demand-mortgage-rates