Business

New Redfin analysis shines spotlight on delisting surge in housing market

Young Homebuyer (WSB Radio)

SEATTLE, WA — Sellers are pulling listings from the housing market at the fastest pace in nearly a decade.

According to a new Redfin analysis, nearly 85,000 sellers took their homes off the market in September, which is up 28% from a year earlier and marks the highest for the month in eight years.

Redfin counted a home as “delisted” if it went off the market for more than 31 days without selling or going under contract as “pending” or “contingent.”

The delisting surge is a major reason prices haven’t fallen despite the presence of market conditions such as increased supply and weak demand that would normally pull prices down.