12/08/2025
Realtor.com's latest housing report, using data through October 2025, confirms an unusually high rate of home delistings, with the year-over-year increase at nearly 38%. This trend, where sellers pull their properties off the market rather than accept lower offers, has made 2025 the year with the highest national delisting rate since data tracking began in 2022.
Delisting Metrics and Trends
Year-over-Year Increase: Delistings in October 2025 were up 37.9% compared to October 2024.
Year-to-Date Increase: The delisting rate rose 45.5% year to date through October.
Monthly Rate: Since June 2025, approximately 6% of active listings have been removed from the market each month, a rate typically seen only in the slowest winter periods.
Delisting-to-New Listing Ratio: In October, the national ratio climbed to 0.27, meaning for every 100 new listings, 27 homes were delisted. This is a notable increase from 20 per 100 in October 2024.
Causes and Market Impact
The primary driver for the high delisting rate is the ongoing mismatch between seller price expectations and buyer affordability. High mortgage rates and elevated home prices have stalled buyer demand, leading many properties to sit on the market longer. Instead of cutting prices to attract buyers, many sellers, often those with substantial home equity and low pandemic-era mortgage rates, are choosing to wait for a more favorable market.
This seller pullback helps to prop up prices and prevents a more significant market cooling. The national median list price in November was $415,000, a slight dip of 0.4% year over year, while price cuts affected 18.0% of listings. The trend indicates a "deadlock" in the housing market, where neither buyers nor sellers are willing to budge significantly.
Geographic Variations
Certain metropolitan areas are experiencing this trend more acutely. Markets with the highest delisting-to-new-listing ratios in October include:
Miami: 45 delistings per 100 new listings
Denver: 39 per 100 new listings
Houston: 37 per 100 new listings
These markets, often "pandemic boomtowns," reflect areas where price expectations have been slow to adjust to current conditions.