CNBC Mon, Dec 8 2025
- Home delistings in October were up 45.5% year to date and up nearly 38% from October 2024, according to a new report from Realtor.com.
- Miami, Denver & Houston have led the pace of delistings nationwide
- More potential buyers are heading to what Realtor.com calls “refuge markets,” cities like Grand Rapids, Michigan, and St. Louis, where home prices are lower.
- Canceled purchase agreements are also on the rise, now well above pre-pandemic levels.
Late fall tends to be the time when the most homes come off the market, as so-far unsuccessful sellers would rather not sit through the slowest winter months. In October, however, delistings, which are reported with a one-month lag, were up 45.5% year to date and rose nearly 38% from October 2024, according to a new report from Realtor.com.
The report calls it an “unusually high rate,” as this is now the highest delisting year since Realtor.com began tracking in 2022. Delistings started to rise in June and have remained elevated for five straight months. About 6% of active listings are coming off the market each month, which is typically only seen in the dead of winter.
In addition, more potential buyers are heading to what Realtor.com calls “refuge markets.” These are areas where home prices are much more affordable and didn’t see the run-up in prices during the first years of the pandemic.
“Rising delistings and the growth of refuge markets capture the push and pull defining today’s housing market,” said Danielle Hale, chief economist at Realtor.com, in a release. “These dynamics reflect how higher rates and years of rapid price growth have rewritten the rules of engagement for both buyers and sellers.”
Hale does forecast a gradual improvement next year, with potentially lower mortgage rates and more consistent supply creating an increasingly balanced market between buyer and seller.
