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Home Sellers Are Pulling Properties off the Market at Record Pace
Pandemic boomtowns are seeing the biggest jump in delisted houses as rising mortgage rates hit demand and real estate transactions slow.
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A record number of homes are being delisted as sellers face a sharp drop in demand, according to real estate brokerage Redfin.
On average, 2% of homes for sale were delisted without being sold each week during the three months ended Nov. 20, Redfin said. That compares to 1.6% a year earlier and is yet another sign that the decade-long housing boom is over.