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While national active inventory is still up year-over-year, the pace of growth has slowed since summer as some home sellers have thrown in the towel and delisted their properties. Indeed, according to Redfin, U.S. delistings as a share of inventory recently ticked up to 5.5%—a decade-high reading for this time of year.

Looking ahead, in markets seeing the biggest jumps in delistings right now, many of those listings will likely return to the resale market in spring 2026—or test out the rental market. Without a corresponding increase in housing demand, that could lead to a faster-than-expected acceleration in inventory growth.

“More sellers are giving up because their homes

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