Close to 85,000 home sellers across the United States pulled their properties off the market in September, representing a 28 percent increase from last year and the highest level for the month in eight years, according to Redfin.
The Nov. 25 report indicates that 5.5 percent of the county’s total listings were delisted in September—the highest rate in 10 years. A home is considered “delisted” if it leaves the market for more than 31 days without selling or going under contract. A listing is considered “stale” if it has been on the market for more than 60 days since the original listing date.
“That increase is bigger than it looks on paper; it represents a fairly significant jump in delistings from last year,” senior Redfin economist Asad Khan said in the report. “More sellers are giving up because their homes have been sitting on the market for a long time, and they don’t want to or can’t afford to settle on accepting a low price.”…