San Jose has the second-highest rate of home sellers pulling their listings off the market among all major U.S. cities, according to a Redfin study released Wednesday.
The real estate tracker reported that more than 9% of homes listed for sale in San Jose were withdrawn by sellers last month. The trend is reducing housing inventory in the South Bay and intensifying price pressures for prospective homebuyers in an already competitive market.
Redfin officials point to a combination of high inflation, elevated mortgage rates and shifting financial calculations for sellers as the primary drivers behind the market pullback…