Pandemic boomtowns including Sacramento, Austin and Phoenix saw the biggest jump in delistings as prohibitively high housing costs dampened buyer demand. A record 2% of U.S. homes for sale were delisted each week on average during the 12 weeks ending Nov. 20, compared with 1.6% one year earlier. The share has come down a touch
Some homebuyers are backing out of deals as a slowing housing market gives them more room to negotiate. Others are being forced to renege on contracts because higher mortgage rates mean some homes are no longer affordable. Nationwide, roughly 60,000 home-purchase agreements fell through in June, equal to 14.9% of homes that went under contract
In a strong seller’s market, some homeowners are realizing they can attract bidders without offering as high of a percentage to the buyer’s agent. The typical home seller pays the agent representing the buyer a fee equal to 2.63% of the sale price, down from 2.69% in 2020 and 2.75% in 2017. A fiercely competitive
Eight of the places on the annual top 10 list are in Florida, which is luring scores of house hunters in search of sunshine, low taxes and more affordable housing. Retirement communities surrounding Sarasota, in particular, are seeing growing demand from young homebuyers who have been priced out of other areas and from remote workers
Pocket listings—homes sold without being marketed publicly—have become more common since 2019, according to a survey of agents. 2.3% of homes listed in the third quarter were marked sold or pending the same day they were listed—an indicator of a potential pocket listing. That’s up from 1.5% two years earlier. Metro areas in Florida and
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