Realtor.com says more than 45% increase in delistings signals widening gap between buyer budgets and seller expectations.
By yourNEWS Media Newsroom
A growing number of American homeowners are pulling their listings off the market as housing conditions continue to cool, according to Realtor.com’s November 2025 housing trends report.
The analysis found delistings jumped 45.5 percent year-to-date through October and 37.9 percent year-over-year, marking the highest level since Realtor.com began tracking the metric in 2022. Roughly 6 percent of all active listings were removed from the market each month this year, with the delisting-to-new-listing ratio reaching 0.27—meaning 27 homes were withdrawn for every 100 newly listed.
Chief economist Danielle Hale said the numbers highlight a “push and pull” in today’s market. “A number of sellers are retreating after listing if the market doesn’t meet their price expectations, while buyers are strategically redirecting to the metros that remain affordable,” she said in the report.
Regional patterns show the trend deepening nationwide.
- Miami led with 45 delistings per 100 new listings, up from 34 a year earlier.
- Denver saw delistings rise from 24 to 39 per 100, while Houston climbed from 31 to 37.
- Other high-delisting metros included Los Angeles, Seattle, Dallas, and Portland, Oregon.
The report attributed the shift to a “growing mismatch between buyer affordability and seller price expectations,” with many owners opting to step back rather than lower prices in a slower market.
Homes that remain listed are taking longer to sell—averaging 64 days on the market, three days longer than last year. It was the 20th straight month of increasing time-on-market. Miami homes lingered an additional 10 days on average, followed by Las Vegas at 9, and Sacramento and Raleigh at 8.
The national median home sale price in November was $415,000, down 0.4 percent from a year earlier. Realtor.com said “refuge markets”—affordable metro areas near high-cost regions—are gaining traction as buyers search for homes 20–30 percent below the national median.
Top “refuge markets” include Grand Rapids, Michigan; St. Louis, Missouri; Cleveland, Ohio; Milwaukee, Wisconsin; and Pittsburgh, Pennsylvania.
At the extremes, San Jose–Sunnyvale–Santa Clara, California, retained the nation’s highest median home price at $1.3 million, while Pittsburgh had the lowest at $245,000, up 3.7 percent year-over-year.
“As we move into 2026, gradual improvements in affordability and more consistent inventory will be key to unlocking a more balanced market,” Hale said.
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