Miami home sellers are delisting properties at more than twice the rate of the rest of the United States, while home prices nationwide are dropping, according to a Realtor.com analysis.
Real estate experts say the price drops reflect a post-pandemic market correction. While Miami logged the second-largest price decrease at 4.7 percent, it led the nation in both average time on the market (88 days) and delistings, with 59 per 100 listings.
Sellers, who outnumbered home buyers in June by a record margin, are becoming increasingly frustrated with their properties languishing on the market, leading to scores of delistings in Miami.
Metros With the Highest Rates of Delistings
Miami: The South Florida metro market saw 59 homes delisted for every 100 new homes listed, up from 27 in May…