California Delisting Rate Rises to 6.3% in May While Relistings Remain Near Multi-Year Lows
State delisting rate reached a record 6.3 percent in May, up from 3.6 percent in May 2022, according to Realtor.com data. The national rate stood at 4.8 percent.
New York PostCom. 6 percent recorded in May 2022. 4 percentage points above the historical May average.
Delistings are defined as properties actively listed in one week that are entirely off-market the next, with weekly transitions tallied into a rolling four-week total. California’s median home price stood at $914,810 in April, according to the California Association of Realtors. com reported that the state’s delisting rate remains higher than the national figure.
Relisting rates in California have stayed in the low-to-mid 4 percent range since 2021. That range is below the 5-to-6 percent levels recorded between 2017 and 2020. 9 percent year-over-year.
The stability in relistings indicates that once homes are withdrawn, sellers are keeping them off the market for longer periods. com, said high prices make it difficult for sellers to purchase replacement homes. She added that rising mortgage rates reduce buyer interest, leaving sellers with fewer showings and prompting withdrawals.
Jones said the next few months will be crucial for assessing market sentiment. She noted uncertainty over whether buyers are stepping back due to affordability or broader economic conditions. 4 million while remaining listed.
5-bath home in the Bay Area has been on the market for 53 days and cut its price by $449,000.
