A new report from Redfin shows a growing imbalance in the housing market: sellers now outnumber buyers by 43% nationwide, one of the widest gaps recorded since 2013.
This shift has pushed more markets into buyer-friendly territory. In March, 38 of the largest U.S. metros were classified as buyer’s markets, up from 29 a year ago, while just five remained seller’s markets.
The change is being driven largely by a pullback in demand. The number of active buyers is down 10% year over year, nearing pandemic-era lows, as affordability challenges, rising insurance costs, and economic uncertainty keep many on the sidelines. At the same time, inventory has remained relatively steady, giving buyers more options and increased negotiating power.
In markets like Miami, Nashville, and Austin, sellers significantly outnumber buyers, in some cases by more than double. Meanwhile, tighter inventory continues to support seller conditions in parts of the Northeast and Midwest.
For a deeper breakdown of the data and what’s driving these shifts, read the full report.
