He said the operation would likely continue after the final of the Pakistan Super League (PSL) on 19 March.
No international cricket was played in Pakistan for six years following an attack on the Sri Lanka team by gunmen in 2009. It also took years for international players to return, and the ongoing tournament involves a large security operation.
"We can't afford to risk the security and safety of the PSL," a senior police official told the Reuters news agency.
Officers and paramilitary rangers were seen leaving the Zaman Park suburb where the house is located, with some reportedly abandoning roadblocks and checkpoints.