Relisting, agent switching, and sale outcomes in the housing market

Abstract

Single-family homes do not always sell during their initial listing contract. This study investigates how relisting a home–whether with the same or a different agent–affects transaction prices and marketing durations, using over 670,000 sales from 2000 to 2019, including nearly 45,000 relistings. We find that outcomes are shaped by the housing market phase, off-market gap between listings, and relisting type (expired vs. canceled). Relistings during the Peak phase (May 2005–March 2006) yield positive price effects, while other periods exhibit largely discounts. Short off-market gaps (0–7 days) lead to longer total marketing periods, suggesting market skepticism of superficial resets. In contrast, longer gaps (31–180 days) reduce total marketing durations, consistent with a new buyer pool or home renovations. Representation changes following expirations generate modest price gains, contrasting prior findings. Overall, relisting should not be viewed as a uniform signal of failure but as a strategic action shaped by timing and listing history.