M
iami home sellers are taking a unique approach to the cooling market: pulling their listings off the market at an unprecedented rate. According to Realtor.com's July report, 59% of new listings in Miami were removed in June, more than double the national average and far outpacing other cities like Phoenix and Riverside, California.

    While home prices across the US are dropping to attract buyers, Miami sellers are holding firm on their asking prices. The median listing price fell 4.7% year-over-year in July, but instead of adjusting prices, many sellers are opting to delist their properties altogether. This trend is particularly striking given that listings are lingering longer on the market, with homes now sitting for an average of 88 days.

    Sellers in Miami appear to be anchored to peak-era price expectations and are willing to wait rather than negotiate. According to Realtor.com's chief economist, Danielle Hale, this signals a patient seller dynamic, where homeowners are increasingly opting to delist their properties rather than compromise on price.

    The data suggests that Miami sellers are still convinced their homes are worth top dollar, even as buyers grow more cautious. This is in contrast to the national trend, where delistings rose 48% year-over-year in June due largely to rising seller frustration. The scale of the shift in Miami indicates a market where sellers remain optimistic about their property values, despite the cooling market conditions.