homesales

American home sellers are pulling their listings at the highest rate since the pandemic. The housing market is not cooling. It is freezing.
5.8% of all US home listings were taken off the market in April.
The highest rate since March 2020.
Excluding the pandemic panic, this has never happened before. Ever.
This is not sellers finding buyers. This is sellers giving up entirely.
And the reason is simple and brutal. Buyers have gained negotiating power. Inventory is rising faster than demand. And sellers who bought at lower prices with lower mortgage rates are refusing to accept what the market is actually offering them right now.
So they walk away.
Atlanta is leading the retreat. 10.7% of April listings pulled off the market in a single month. San Jose at 9.3%. Los Angeles and Dallas both at 7.8%.
These are not small markets. These are the economic engines of the United States. And sellers in all of them are saying the same thing.
Not at this price.
But here is the trap they are walking into.
Rates are not coming down. The Fed cannot cut into 5% inflation. ISM Services Prices just hit a 4 year high. The strong jobs market keeps the pressure on. Every month sellers wait, the affordability math gets harder for buyers.
The stalemate continues. Listings pile up. Delistings pile up alongside them.
A market where nobody wants to sell at current prices and nobody can afford to buy at current prices is not a healthy market.
It is a market waiting for something to break.
#HousingMarket #RealEstate #HomeSales #Mortgage #Economy