As Mortgage Rates Near 7%, Record Delistings Surge 47% — Homeowners Trapped Between Price Cuts And The Waiting Game

A growing number of frustrated sellers are yanking their listings just as climbing borrowing costs threaten to squeeze the housing market even harder.

What Happened: Nationally, 47% more homes came off the market in June than a year earlier, Realtor.com data show, the biggest delisting spike on record. Year‑to‑date withdrawals are up 34%, and active inventory has ballooned 29%, giving buyers little reason to chase pandemic‑era sticker prices.

The glut is translating into longer waits: typical properties now linger nearly three weeks beyond last summer's pace, according to Realtor.com senior economist Jake Krimmel, who spoke to Fortune. Phoenix, Austin and Denver lead the retreat, with Phoenix seeing the nation's highest share of pulled listings and price cuts.

Mortgage pain is compounding the chill. The ...