Summary
In January, nearly 45,000 homes in the U.S. were relisted for sale, marking the highest number for that month in the past decade, according to a Redfin study. This increase in available homes could give buyers more power in the market, though many sellers are listing at lower prices to attract interest. Relistings were most frequent in high-priced areas like the West Coast and less common in more affordable regions like the Northeast and Midwest.
Key Facts
- Around 45,000 homes were relisted in January, the most in a decade.
- Sellers now outnumber buyers by more than 600,000 in the U.S. housing market.
- In January, the median sale price of a home was $423,029, up by 1.1% from a year earlier.
- Some homes are being relisted at lower prices to make them more attractive to buyers.
- Relistings made up 3.6% of active housing listings in January.
- The highest relisting rates were in West Coast cities like San Jose, San Francisco, and Oakland.
- Relistings were least common in cities like Pittsburgh, Milwaukee, and Virginia Beach.
- More available homes may lead to better negotiation opportunities for buyers.
