Sellers are relisting at record pace

Making the cut

It seems home sellers are starting to get the message. 

Sellers who delisted last year are now relisting at a record pace, and they are coming back to the market with realistic expectations. A growing number of them are relisting below their original asking price after failing to sell the first time.

We’ll give you the numbers below and show you where these trends are strongest and weakest.

Also, we would like to encourage you to check out today’s Foundation Plans.  We cover a topic that is too often overlooked: knowing when to walk away from a deal.

While we love chasing deals, we’ve learned there are certain deals you shouldn’t chase. But how do you spot them? Scroll down to today’s Foundation Plans for a quick overview. 

And on the subject of scrolling down… let’s get into today’s Blueprint!

- James

Relistings surge as sellers bet on stronger spring market

Nearly 45,000 sellers who delisted their homes last year relisted them in January — the highest January number in records dating back a decade. That represents a record 3.6% of homes that were on the market in January, according to Redfin.

These are the main takeaways to know:

• Many sellers delisted instead of cutting prices: Delistings surged to a record 112,788 in December 2025 as homeowners pulled listings rather than accept lower offers in a buyer’s market. Many are now returning in hopes that the spring buying season brings stronger demand.

• More supply could mean bigger buyer discounts: With more homes for sale than buyers in many markets, the rise in relistings could push supply even higher. Buyers are already negotiating discounts, and economists say additional relistings could give buyers even more leverage.

• Price reductions are increasingly common: 36.1% of homes relisted in January came back to market at a lower price than their original listing, the highest January share on record, evidence that some sellers are becoming more realistic after failing to sell last year.

• Relistings are concentrated in expensive West Coast markets: The highest shares were in San Jose (12.5%), San Francisco (11.4%), and Oakland (10.2%), followed by Seattle (8.3%) and Denver (7.4%). More affordable markets like Pittsburgh (1.7%) and Milwaukee (2.2%) had the lowest relisting activity.

My take

This surge in relistings is another sign the market is still tilted toward buyers. Many sellers who pulled their homes off the market last year are coming back, and this time, a lot of them are more realistic about price. A growing share are relisting below their original asking price after failing to sell the first time. That could give the spring market a noticeable bump in supply, especially in expensive markets where relistings are most common. For buyers who are prepared — and the agents who represent them — this may create an opportunity to negotiate better prices and concessions as sellers return to the market hoping to finally get a deal done.

Big landlords are unloading homes across major U.S. markets

Large institutional landlords and investors are now net sellers. They have been selling more homes than buying across major U.S. metro areas. This is a trend that has been building since 2022 and accelerated in late 2024, according to CNBC. Here are the key trends they report. 

• Selling activity is especially strong in certain markets: In Dallas, investors own 9.2% of the housing stock but account for 22.8% of new listings, with aggressive selling also occurring in Philadelphia and Houston.

• Some landlords are cutting prices to exit: FirstKey Homes is listing more properties than its peers and cutting prices about 10% on average, with reductions roughly every 20 days.

• Institutional investors are a small share of the market: Large investors owning 1,000+ homes represent only about 3% of the single-family rental market, while mom-and-pop owners control roughly 80%.

• Capital is shifting to build-to-rent: Instead of buying existing homes, investors are partnering with builders or developing rental communities themselves. Firms like Invitation Homes and AMH are increasingly acquiring newly built homes or building rental communities from the ground up.

My take

This is a major opportunity for buyers and the agents who represent them. Large institutional landlords want to move these homes quickly, and in markets like Dallas, they account for nearly 23% of new listings despite owning only about 9% of the housing stock. Unlike typical homeowners, these sellers are managing portfolios, not protecting memories, so they’re often willing to cut prices and offer concessions to get deals done. Some are already trimming prices by around 10% on average. For buyers who are prepared and agents who recognize the moment, now is the time to act. Strike while the iron is hot.

The most expensive homes ever sold in the U.S.

Mark Zuckerberg paid $170 million earlier this month for a megamansion on Miami’s Indian Creek Island, a purchase widely hailed as the most expensive residential real estate transaction ever recorded in Miami-Dade County.

But, as realtor.com recently revealed, the deal ranks only as the second most expensive home sale in Florida and just the seventh priciest private residence ever sold in the United States.

Here are the most expensive homes ever sold in the U.S.:

1. Ken Griffin's New York penthouse: $239.96 million

2. Waterfront Naples mansion: $225 million

3. Oakley founder James Jannard's Malibu mansion: $210 million

4. Beyonce and Jay-Z's Malibu mansion: $190 million

5. Brooklyn Nets owner Joe Tsai's New York penthouse: $188 million

6. Marc Andreessen's 7-acre Malibu compound: $177 million

7. Mark Zuckerberg's Billionaire Bunker mansion: $170 million

8. Jeff Bezos' Beverly Hills estate: $165 million

9. Tarpon Island in Palm Beach: $152 million

10. Investor Daren Metropoulos' Palm Beach mansion: $148 million

My take

How does an agent gain access to the buyers behind deals like these? The list of the most expensive homes ever sold in the U.S. reveals something important about the ultra-luxury market: the people behind these transactions rarely sit inside the normal real estate ecosystem. Buyers like Ken Griffin, Mark Zuckerberg, and Jeff Bezos operate within tightly guarded circles of trust made up of advisors, attorneys, wealth managers, designers, and family offices, which means agents rarely reach them directly. The billionaire class is protected by several “rings” of influence, so the way in isn’t pitching the buyer — it’s building relationships with the people who already have their trust. In other words, the path to a nine-figure deal usually doesn’t run straight through the client; it runs through the trusted advisors who already sit inside their world.

Schematics

The news that just missed the cuts

• Agents – this is the best time to make your calls

• For real estate investors, the West Coast is hot, and Florida is not

• The open house isn’t dead. Most agents just don’t know how to run one

• Property taxes & insurance now account for 21% of mortgage payments

• Second tech billionaire buys in Miami this week – expect prices to soar

Foundation Plans

Advice from James to win the day

Every agent knows the thrill of chasing a big deal, but experienced agents also know something just as important: not every deal is worth doing. 

Bad terms and one-sided contracts may promise fast money, but they often lead to stress, legal trouble, and lasting damage to your reputation. The best agents know their credibility is worth far more than any single commission, and they’re willing to say no when a deal doesn’t feel right. 

Today, I want to talk about one of the most important professional skills an agent can develop: knowing when to walk away.  

1. Spot red flags in contracts – Just because a deal looks profitable doesn’t mean it’s safe. Unfair, one-sided terms can create serious legal and financial headaches down the road. Train yourself to identify red flags early, and don’t hesitate to walk away when the risks outweigh the rewards.

2. Protect your reputation at all costs – In real estate, your reputation is your most valuable currency. Compromising your ethics or cutting corners for a quick paycheck can lead to long-term damage. Clients and colleagues will respect you more when you consistently choose integrity over short-term gains.

3. Master the power of saying no – Top agents know that not every client or listing is worth taking. Saying no to a questionable deal clears space for bigger, better opportunities to come your way. This discipline not only reduces risk but also strengthens client trust and positions you for sustainable success.

4. Think long-term, not short-term – Walking away today can open the door to much greater opportunities tomorrow. Many agents have stories of passing on a bad deal only to land a far more lucrative one later. By prioritizing credibility and client relationships, you create a pipeline of business that compounds over time.

Knowing when to walk away isn’t weakness — it’s discipline. And over the course of a career, that discipline will mold you into a great agent. 

I go into more detail here. Watch it and let me know what you think.  

Breezy

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Just in Case

Keep the latest industry data in your back pocket with today’s mortgage rates:

“Your time is limited, so don’t waste it living someone else’s life.” — Steve Jobs

Each day is a gift – a chance to live the life you want. Ruthlessly focus on your goals. Don’t let your past or the fear of being judged distract or paralyze you. Choose to live with an integrity that you can be proud of.

Have a wonderful weekend, and I’ll see you back here next Friday!

- James