US home delistings reached near-record rates in April as sellers chose to pull their properties off the market rather than accept terms they deemed unfavorable, Redfin said Wednesday.
Some 5.8% of all listings were taken off the market in April, tying December 2025 for the highest share since March 2020, when the COVID-19 pandemic spooked sellers, according to the online real estate brokerage.
Delistings rose 3.8% sequentially on an adjusted basis, climbing for the second consecutive month.
"Prices aren't soaring like they were five years ago," Redfin Premier agent Patricia Ammann said. "Buyers know they have negotiating power, often offering under the asking price and completing inspections, but some sellers just won't budge."
Homes are taking longer to sell amid affordability constraints and excess supply, Redfin said.
"With fewer buyers competing for homes, sellers are more likely to wait weeks or months without a strong offer," according to the report.
But some sellers who delisted their homes in the last year are relisting them. The relisting share was at 2.5% in April.
"Many of last year's sellers delisted when they couldn't get the price they wanted. Now, some of them are circling back, willing to price realistically and do what it takes to sell their home," said Monica DiSchiano, a Redfin Premier agent. "They've realized that if they're selling for less, the next home they buy will cost less, too."
Separately, Redfin said Tuesday that down payments for home purchases fell 1.5% year over year to $64,000 in March amid a buyer-friendly market.
