Sellers in some US metros are growing so frustrated with the state of the housing market they are de-listing their homes at an alarming rate.
Beyond slowing sales and flat prices, de-listings have become a defining feature of this summer’s housing market.
Nationally, de-listings rose 57 percent in July compared to the same time last year, reports Realtor.com.
This continues a sharp upward trend.
On a year-to-date basis, de-listings are up 41 percent.
The ratio of de-listings to new listings — a metric that captures the flow of homes in and out of the for-sale market — climbed to 0.24 in July.
This means that for every 100 new listings that came onto the market, 24 previously listed homes were removed without selling. By comparison, the ratio was just 0.17 a year ago.
Miami is ground zero for this concerning trend. The Florida city saw 57 de-listings per 100 new listings in July.
What’s everyone’s thoughts on the 18-year real estate cycle? Think it holds up?
byu/Responsible-Bear-485 inREBubble