Home sellers in San Jose are increasingly taking their properties off the market instead of lowering prices, according to a new report from Redfin released Wednesday.
The study found that San Jose had the second-highest rate of delisted homes among major U.S. cities, signaling that many sellers may be struggling to find buyers willing to meet their asking prices. As mortgage rates remain elevated and affordability challenges continue across the Bay Area, some homeowners appear to be waiting for better market conditions before making a sale.
Redfin’s report highlights a cooling trend in parts of the housing market after years of aggressive competition and soaring prices. Experts say sellers who listed homes at peak-market prices may now be adjusting expectations as buyers become more cautious.
Despite the increase in pulled listings, San Jose remains one of the country’s most expensive housing markets, driven by limited inventory and continued demand in Silicon Valley.
