AriZona Real Estate insider!

The Phoenix housing market is sending a clear message: sellers aren’t willing to compromise. According to Redfin’s latest analysis, 1,495 homes were delisted in Phoenix this September, marking a 38% year‑over‑year jump. This surge reflects a broader national trend where homeowners are pulling properties off the market rather than accepting lower offers.

📊 What’s Happening in Phoenix

• Delistings: 1,495 homes removed from the market in September.
• Share of Listings: 4.9% of all active listings were pulled.
• Stale Inventory: Roughly 73% of listings sat unsold for 60+ days.

In short, sellers are holding firm. Many would rather wait—or rent out their homes—than take a loss or slash prices.

🌐 The National Context

Phoenix isn’t alone. Nationwide, nearly 85,000 homes were delisted in September, the highest level for that month in eight years. Sellers across the country are facing the same dilemma:

• 28% increase in delistings year‑over‑year.
• 15% of delisted homes at risk of selling at a loss.
• Rising mortgage rates and economic uncertainty are sidelining buyers, leaving homes to linger.

Despite slower demand, home prices nationally rose 2% year‑over‑year, thanks in part to delistings tightening effective inventory.

🔎 Why Sellers Are Refusing to Settle

• Protecting Equity: Many recent buyers locked in ultra‑low mortgage rates during the pandemic and won’t sell unless they get peak pricing.
• Market Strategy: Some delistings are tactical—owners relist later to reset “days on market” or avoid visible price cuts.
• Lifestyle Choices: Others are opting to rent out properties, waiting for stronger demand before re‑entering the market.

🏠 What It Means for Phoenix Buyers and Investors

For buyers, fewer available homes mean continued competition and elevated prices—even in a cooling market. For investors, the trend highlights opportunities in rental demand and long‑term appreciation, especially in growth corridors like Queen Creek and Gilbert that border Phoenix.

✨ Closing Thought

Phoenix’s 38% surge in delistings underscores a market in transition. Sellers are standing their ground, buyers are waiting for relief, and the tug‑of‑war is keeping prices higher than expected. Understanding these dynamics is key for anyone navigating Arizona’s housing market today.