Overview

• The rate of delisted homes jumped 47 percent in May compared with a year earlier, according to Realtor.com.
• Active inventory climbed to about 1.36 million homes in June, the highest level since November 2019, Zillow data show.
• A record 26.6 percent of sellers cut their asking prices in June, driven mainly by markets in the Sun Belt and the Mountain West.
• Miami led U.S. metros with a 59 percent delisting-to-new-listing ratio in June, more than double the national average.
• The Federal Reserve’s decision to hold rates steady in July has kept mortgage costs elevated and buyer demand subdued.