Sellers are increasingly delisting their homes in South Florida. Here’s why.
South Florida home sellers are increasingly pulling their houses off the market — frustrated that they’re not finding buyers at their preferred price.
And the tricounty region — encompassing Miami-Dade, Broward and Palm Beach counties — has led this summer in the rate of homes that were delisted as properties sat on the market longer, a recent report shows.
In June, the Miami metropolitan area had the biggest ratio of homes, 59, that were taken off the market per every 100 homes being added, according to a Realtor.com analysis from July that studied the largest metropolitan areas in the country.
The June data was reported a month later “to allow time to determine whether a delisted home was actually sold or truly taken off the market by the seller,” according to the report.
The results of the analysis reflect real estate trends around the U.S. as there are more listings and homeowners not finding buyers who can match their asking prices, the report shows.
Increased inventory
There were over a million active listings last month, marking a new record since the pandemic.