Home sellers pull listings at highest rate since pandemic onset as demand weakens
By
Diana Olick
Summary
New data from Redfin shows that 5.8% of all home listings were pulled off the market in April 2024, tying with December for the highest share since March 2020. This represents a 3.8% increase from March. The trend is driven by higher mortgage rates, elevated gas prices, and weaker consumer confidence, which are dampening housing demand and shifting leverage away from sellers.
Source
bskyHome sellers pull listings at highest rate since pandemic onset as demand weakenscnb.cxKey quotes
· 3 pulledMore frustrated home sellers were giving up, right in the midst of the all-important spring market, according to new data.
Nationwide, 5.8% of all home listings were pulled off the market in April, according to Redfin, a real estate brokerage.
The increase comes as higher mortgage rates, elevated gas prices and weaker consumer confidence take their toll on housing demand.
You might also wanna read
Rising Share of U.S. Homes Bought by Investors Amid Affordability Challenges for Traditional Buyers
Real estate investors are increasingly purchasing U.S. homes due to high prices and borrowing costs, with 27% of homes sold in the first qua
abcnews.go.com·11mo ago
A Check‑In on the Mortgage Market
Resurgence of Meme Stock Activity and Its Link to the Housing Market
The article discusses the resurgence of 2021-like meme stock activity and the simultaneous record holdings in money market funds, drawing pa
ofdollarsanddata.com·10mo ago
Census Data Shows Inflation Wiped Out U.S. Income Gains in 2024
New Census Bureau data reveals that inflation erased wage gains for most Americans in 2024, leaving household incomes largely unchanged exce
wsj.com·9mo ago
Who Is Still on First? An Update of Characteristics of First‑Time Homebuyers
Grocery Prices Up 29% Since Pandemic, With No Relief in Sight
Grocery prices have increased by 29% since February 2020, marking the biggest jump in nearly three years. The price surge is driven by pande
npr.org·9mo ago
Comments
Sign in to join the conversation.
No comments yet. Be the first.