Home sellers are relisting properties at fastest pace in a decade, but spring supply is still low
CNBC
Frustrated sellers who pulled homes off the market last fall are now re-listing them at a quick pace, thanks to lower mortgage rates, but supply is still low.
The all-important spring housing market is off and running, and while the pace isn't expected to be strong, there are signs of optimism, at least among sellers. Some who gave up last year are jumping back in.
Nearly 45,000 homes that were delisted last year were relisted for sale in January, according to Redfin, a real estate brokerage. That is the highest January figure since Redfin began tracking this metric a decade ago and represents a record 3.6% of homes that were on the market in January.
The January figures come as Redfin reported a record number of sellers pulling their homes off the market last September. Close to 85,000 sellers delisted, up 28% from September 2024. Higher mortgage rates last year, still-high home prices and growing uncertainty in the economy sidelined buyers last fall, taking sellers out of the driver's seat, where they had been in the years during and just after the pandemic.
Home sales made a small gain to start the year, but higher mortgage rates now could throw cold water on the spring season.
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Frustrated sellers who pulled homes off the market last fall are now re-listing them at a quick pace, thanks to lower mortgage rates, but supply is still low.
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