US home sellers are removing outdated listings from the market as interest wanes

Home sellers in the US are yanking listings off the market as the country’s real estate sector stagnates.

Nearly 85,000 sellers removed their properties in September, the highest number for that month in eight years, according to Redfin. The number of stale listings – those on the market for 60 days or more – rose to the highest level since 2019 in September.

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The housing market is weakening economic uncertainty And concerns about affordability keep buyers informed sidelineeven as the available supply grows. That means many Americans will stay in their current homes, rather than settle for lower offers.

“Buyers and sellers now live in different worlds,” said Chen Zhao, head of economic research at Redfin. “Buyers are demanding that prices be reduced, but sellers still expect prices to remain resilient and continue to grow. Sellers are not happy with market prices.”

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About 15% of homes taken off the market in September were at risk of being sold at a loss, the highest share in five years, Redfin said.

Miami had the highest share of delistings, with 7.8% of all listings taken off the market, followed by Fort Lauderdale with 7.7%. Dallas, Philadelphia and West Palm Beach, Florida each saw 7.5%.