Phoenix Leads Nation in Delistings -

[Ken M.]

"With median list prices essentially unchanged over the past two years, it’s clear that many sellers remain anchored to peak-era expectations," says Krimmel.
https://www.realtor.com/news/trends/delistings-home-seller-j...

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Nationally, 13 homes were delisted in May for every 100 that were newly listed. 

In Phoenix, the ratio was 30, the highest in the nation.

"While the market may be becoming more buyer-friendly, sellers still hold a trump card: delist the home and fish for that high asking price at a later date."

Nationally, 20.6% of home listings had price reductions in June—up 2.2 percentage points from last year. This is the highest June share in Realtor.com data going back to at least 2016.

Denver led the nation in price reductions, with 34% of all listings there carrying a price cut in June. Phoenix and Austin, TX followed closely in price-reduced share.

Even with more price cuts, the national median list price held steady at $440,950 last month, up 0.2% from last year, underscoring that many sellers are still expecting to get peak-era prices.

Among large metros, the biggest year-over-year median price increases were in Baltimore (+7%), Virginia Beach, VA (+5.2%), and Buffalo, NY (+3.8%).

The metros with the biggest year-over-year median price declines were Cincinnati (-6.3%), Sacramento, CA (-4.8%), and Miami (-4.7%).