The “Delisting” Wave Putting Years of Housing Market Gains at Risk
Summary
The housing market is seeing a rise in delistings, meaning sellers are pulling their homes off the market. This, combined with slower home price growth, indicates a buyer's market. Hosts should be aware that buyers may have more negotiating power and consider adjusting listing prices and strategies accordingly.
Key Insights
- •The number of delistings has increased, with the highest level in eight years, because sellers are not getting the prices they want.
- •Home prices are growing slower than the rate of inflation, indicating a housing correction. Real home prices (inflation-adjusted) are down, creating affordability benefits for buyers.
- •The average days on market is now 49 days, and the price-to-list ratio is at 98%, meaning buyers are negotiating discounts of at least 2%.
Action Items
- ✓Pay attention to your listing's performance data, like days on market, to see how the market is impacting the listing.Effort: lowImpact: medium
- ✓Consider adjusting your listing prices to reflect the current buyer's market conditions, as buyers now have increased negotiating power.Effort: lowImpact: medium
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