Delistings Surge to New High

The number of homes that were pulled off the market surged to a new high in September. According to real estate marketing platform Redfin, nearly 85,000 sellers took their homes off the market in September, up by 28% from the year prior and the highest level for September in the past eight years. Delistings have been rising since the spring of 2024, peaking at 39% in June 2025. Stale listings were also on the rise in September, with 70% of listings sitting on the market for at least 60 days without going under contract.

While slow buyer activity should help bring prices down, the increase in delistings is now having the opposite effect. In September, home prices rose by 2% year-over-year as active supply dwindled.

The increase in delistings helps explain why prices are rising despite tepid homebuying demand.

“The frequency of delistings is keeping inventory tighter than it looks on paper,” Khan said. “Many homes have a sticker price higher than buyers are willing to pay, but many sellers are unwilling to negotiate. When tens of thousands of homeowners pull their homes off the market rather than accept a low offer, it effectively reduces the supply of homes that are actually available for buyers. That keeps sale prices elevated.”