Realtor.com reports delistings with a one-month lag to verify whether a home was sold or genuinely taken off the market.
So far, 2025 has had the highest level of delistings since Realtor.com began tracking the statistic in 2022. A delisting typically occurs when the home listing expires or the seller decides to pull the home off the market without a sale.
The report, released on Dec. 8, shows that delistings began to increase in June and have continued to rise, with roughly 6 percent of active listings pulled from the market each month. In October, the delisting-to-new-listing ratio reached 0.27, meaning that for every 100 new listings, 27 were taken off the market.
“Rising delistings and the growth of refuge markets capture the push and pull defining today’s housing market,” Danielle Hale, Realtor.com chief economist, said in the report. “A number of sellers are retreating after listing if the market doesn’t meet their price expectations, while buyers are strategically redirecting to the metros that remain affordable.”
Miami led the nation in delistings at 45 per 100 new listings, up from 34 in October 2024. In Denver, delistings rose from 24 per 100 new listings to 39 per 100. In Houston, October delistings reached 37 per 100 new listings, up from 31 a year earlier.
Other metro areas with elevated delistings included Los Angeles, Seattle, Dallas, and Portland, Oregon.
“This reflects a growing mismatch between buyer affordability and seller price expectations, with more homeowners choosing to step back rather than continue to market homes that aren’t attracting offers,” the report states.
Homes that have not been delisted are now taking longer to sell, averaging 64 days on the market—three days longer than the same time last year. The report states that this was the 20th straight month in which homes took more time to sell on a year-over-year basis.
Time on the market increased in 34 metros, with most of them in the South and West. Again, Miami placed first, recording 10 days longer than average on the market, followed by Las Vegas at nine days. In both Sacramento, California, and Raleigh, North Carolina, homes spent eight additional days waiting for buyers.
Realtor.com reported November’s national median home sale price at $415,000, a 0.4 percent decline from November 2024.
As a result, the report indicates, “refuge markets” are beginning to garner notice throughout the nation, as buyers seek more affordable options located closer to traditionally unaffordable metros. Also referred to as “down-markets,” these metros typically offer home prices 20 percent to 30 percent below the national median.
Many of these metros are still within commuting or hybrid-work distance of the more expensive regions. The more affordable metros include St. Louis, Cleveland, Milwaukee, Pittsburgh, and Grand Rapids, Michigan.
As of November, the San Jose–Sunnyvale–Santa Clara metro area in northern California commanded the country’s highest median home price at $1.3 million, representing a 3.7 percent year-over-year decline. On the opposite end, Pittsburgh homes had a median sale price of $245,000—the lowest among the 50 largest metros—up by 3.7 percent year over year.
“As we move into 2026, gradual improvements in affordability and more consistent inventory will be key to unlocking a more balanced market,” Hale said.
