News Corp's Realtor.com Reports Rising Delistings Amidst Increasing Housing Inventory

News Corp's Realtor.com reports a 28.1% YoY increase in active housing inventory, a post-pandemic high. However, delistings rose by 47% YoY, indicating seller hesitation and market uncertainty. Median listing prices remained stable at $440,950, but median days on the market increased to 53 days, suggesting slower sales and buyer caution.

The housing market is at a critical juncture, with a significant increase in active inventory, yet a growing number of sellers choosing to delist their properties. According to News Corp's Realtor.com, active inventory climbed 28.1% year-over-year (YoY) to hit a post-pandemic high, reaching 1,085,520 listings. However, delistings rose by 47% YoY, indicating seller hesitation and market uncertainty.

Despite the increase in active listings, the median listing price remained stable at $440,950, suggesting that many sellers are anchored to peak-era prices. The median days on the market increased to 53 days, indicating slower sales and buyer caution. This trend is evident across various regions, with the West and South seeing significant inventory growth, while hot spots like Phoenix, Miami, and Riverside, Calif., are experiencing higher delistings.

The ratio of delistings to new listings reached 13% this spring, highlighting the growing number of sellers pulling their listings off the market. This dynamic is likely to influence whether the market shifts from a balanced to a buyer's market and how quickly that transition occurs.

Anthony Djon, founder of Anthony Djon Luxury Real Estate, noted, "We're seeing hesitation on both sides of the market. Inventory is rising, giving buyers more options and making them more price-sensitive and selective. At the same time, some sellers—especially those not getting immediate traction—are stepping back." This suggests that sellers are testing the market and waiting for the right buyer or price point.

The housing market's evolution is complex and multifaceted, with both buyers and sellers adjusting their strategies. As inventory continues to grow, and delistings outpace overall inventory growth, the market's trajectory remains uncertain. Investors and financial professionals should closely monitor these trends to make informed decisions.

[1] https://www.prnewswire.com/news-releases/housing-market-at-a-crossroads-inventory-climbs-but-some-sellers-hold-out-302499164.html