Housing Market Stagnates: Sellers Refuse to Budge on Prices, Leading to Record DelistingsIn a surprising turn of events, home sellers are increasingly opting to delist their properties rather than accept offers below their asking price. According to Redfin, over eighty-four thousand homes were delisted in September, marking a twenty-eight percent increase compared to the same time last year. This trend indicates that sellers are unwilling to adjust their expectations, even as properties stay on the market for longer periods and potential buyers face affordability concerns and high mortgage rates. The average home that was delisted in September had been on the market for around one hundred days, with many sellers refusing to cut prices despite dwindling bidders. The percentage of stale listings, meaning homes on the market for at least sixty days without a pending sale, reached seventy percent in September. As home prices begin to cool, the median sale price for a home in the United States dropped to four hundred ten thousand eight hundred dollars in the second quarter, according to the Census Bureau.

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