Photo by ucumari photography from Flickr
For every ten newly listed homes for sale in Miami, nearly half left the market without being sold in October.
According to a report from Realtor.com, delistings have jumped nearly 38 percent nationwide compared to the same period last year, with sellers growing increasingly frustrated by homes languishing on the market. (Realtor.com typically delays its monthly reports by about a month, allowing researchers to verify whether a listing has actually sold or was simply taken off the market.)
According to the stats, nowhere is the frustration more apparent than in Miami, which leads the nation in delistings by a clear, but dwindling, margin. In October, Miami home sellers delisted 45 properties for every 100 new listings. That’s down from August, when another Realtor.com study noted 60 delistings for every 100 new listings in Miami.
U.S. cities with the highest delisting rate in October:
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- Miami, Florida — 45 delistings per 100 new listings
- Denver, Colorado — 39 delistings per 100 new listings
- Houston, Texas — 37 delistings per 100 new listings
- Los Angeles, California — 33 delistings per 100 new listings
- Riverside, California — 32 delistings per 100 new listings
Just two months earlier, Miami led the way, with more than twice as many delistings as the next-highest city, Phoenix, with 37 delistings per 100 new listings. Miami also saw the second-highest drop in home prices nationwide since 2024 in August, with an average 4.7 percent decrease (Austin experienced the steepest drop, at 4.9 percent).
“The delisting trend is a perfect personification of the stagnant and frustration-filled housing market,” Realtor.com senior economist Jake Krimmel said in the study. “With buyers and sellers far apart, the sellers’ solution is to pull that trump card and delist, rather than cut prices.”
Ironically, Krimmel notes, the emergency exit strategy actually keeps the market stagnant by shrinking supply, sending everyone back to square one. While winter delistings are common, real estate experts saw a departure from the norm this year when delistings began en masse over the summer, when they expect home-buying to rise.
“Sellers came to market and inventory in many metros boomed, but the buyers never really showed up this summer,” Krimmel said in the study. “Between higher-than-expected interest rates and home prices, low consumer sentiment, and broader economic uncertainty, demand was extremely low.”
