More homes pulled from the market as delistings hit a 10-year high, with buyers backing out
A surge in housing supply has led to homeowners rapidly pulling their listings from the market as the number of buyers fails to keep pace with sellers.
In December, home delistings jumped 64% year-over-year to 73,000—the highest level since 2015—according to CoreLogic data cited by The Wall Street Journal.
While winter often sees a rise in delistings, the scale of this increase points to a significant imbalance between supply and demand.
On the supply side, the number of homes for sale climbed to 1.15 million in December, a 16% rise from the previous year, per the National Association of Realtors.
But demand has remained sluggish. Home sales in 2024 dropped to their lowest levels in nearly three decades as mortgage rates stayed elevated.
High prices have also kept buyers on the sidelines. Even newly built homes—designed to be smaller and more affordable—haven’t seen the expected demand. The number of completed, move-in-ready homes surged 46% in December to 118,000, according to the National Association of Home Builders.
With supply outpacing demand, many sellers are delisting rather than accepting lower offers, hoping for better conditions ahead.
Spring traditionally brings a wave of homebuyers, and many sellers may decide to relist when market activity picks up.
