Home Sellers Withdraw Listings at Fastest Rate Since 2020 as Spring Market Weakens
A record share of U.S. homeowners pulled their properties off the market in April, signaling growing frustration among sellers during the critical spring buying season. Nationwide, 5.8% of all home listings were delisted in April, tying with December for the highest share since March 2020, when the pandemic froze the housing market, according to real estate brokerage Redfin.
Delistings Surge as Seller Confidence Erodes
Delistings in April rose 3.8% compared with March, driven by a combination of higher mortgage rates, elevated gas prices and weaker consumer confidence that have dampened housing demand. Sellers, no longer in a position of strength, are increasingly failing to achieve their desired prices. Atlanta recorded the highest share of withdrawn listings, with one in 10 homes delisted. San Jose, California, followed with roughly 9% pulled, then Los Angeles (7.8%), Dallas (7.8%) and Seattle (7.7%).
"Buyers know they have negotiating power, often offering under the asking price and completing inspections, but some sellers just won't budge," said Patricia Ammann, a Redfin agent, in a release. The shift in leverage comes after mortgage rates, which had briefly touched the 5% range at the end of February, jumped sharply following the start of the war with Iran and have remained elevated since then, according to Mortgage News Daily.
Prices Stabilize Despite Weaker Demand
Home prices have been easing but remain higher than a year ago and have recently begun to strengthen. "Markets that depend more heavily on traditional mortgage financing and rate-sensitive buyers are seeing prices stay relatively flat," said Selma Hepp, chief economist for Cotality, in a release. "Overall, fewer markets posted year-over-year price declines in April than in prior months, pointing to continued stabilization across the housing market."
Signed contracts on existing homes—so-called pending sales—rose slightly in April, up 1.4% from March, according to the National Association of Realtors, likely due to a nearly 6% increase in inventory from the prior month. Listings in some regions are piling up as new supply enters the market while existing homes sit longer, causing some sellers to give up as the spring season draws to a close. Separately, Redfin found that 2.5% of homes on the market in April were relistings—properties that had been withdrawn over the past year and reoffered—tied with the prior two months for the highest share since mid-2020, when housing demand suddenly surged.
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- Date: June 3, 2026