Transcript
A (0:00)
With a CNBC YOUR MONEY minute, I'm Jessica Ettinger. Relistings for homes jumped in January, as would be sellers decided to try again. Here's CNBC's Leslie Picker.
B (0:11)
According to Redfin, almost 45,000 homes were relisted for sale in January, and that's the highest January number since the real estate brokerage started tracking it a decade ago.
A (0:21)
A relisting means the home was on the market, but the owner either wasn't getting the price he or she wanted or something else happened, so they pulled it off. The to wait. Redfin reported a record number of sellers pulling their homes off the market last September. Close to 85,000 sellers had started to realize they're no longer in the driver's seat, with buyers stepping back amid growing economic uncertainty and higher prices putting them off, here's CNBC real estate reporter Diana Olek.
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Mortgage rates, you know, rates have really been hovering between six and six and a quarter percent. And for home buyers out there, it's just not an incentive to get into a market where they are concerned about the economy, where home prices are still high and where there's not a lot of great supply on the market to see either.
A (1:05)
One real estate agent told CNBC last year that a lot of buyers were really asking sellers for concessions and the sellers just refused, throwing their hands up in the air, saying if we can't get what we want for a home right now, we'll just take it off the market and try again in the spring. And that's what's happening. The relisting is on. Redfin says more than a third of homes relisted in January came back on the market at less than their original price. Lots more on this@cnbc.com I'm Jessica Ettinger, CNBC.
D (1:37)
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