Home Sellers Outnumber Buyers by 63%, Widest Gap in 13 Years
Redfin data shows buyer demand hitting a record low while seller supply surges, creating the most lopsided housing market since at least 2013.
The U.S. housing market has swung decisively in favor of buyers, with sellers now outnumbering active buyers by 63%, the widest margin recorded in at least 13 years, according to new data from Redfin. The imbalance reflects a simultaneous pullback in demand and a rise in available inventory, a combination that is reshaping conditions across the country.
The number of buyers in the market dropped to its lowest point in Redfin records dating to 2013, while the number of sellers climbed to the highest level since 2020. The divergence signals that homeowners who delayed listing during the pandemic-era frenzy are returning to market even as prospective purchasers — squeezed by elevated mortgage rates and high prices — remain on the sidelines.
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The shift is most pronounced in major metropolitan areas. Forty-one of the 50 most populous U.S. metro areas are now classified as buyer's markets, the most ever captured in Redfin's dataset. Miami, Nashville, and Houston lead that list, suggesting the Sun Belt and Southeast markets that saw outsized price appreciation during the pandemic boom are now experiencing the sharpest correction in bargaining power.
The data carries significant implications for sellers, who may face longer listing periods, more price reductions, and greater pressure to offer concessions. For buyers who have remained financially able to purchase, the broadening inventory glut represents a rare opportunity to negotiate terms that were largely unavailable during the inventory-starved years of 2020 through 2022. Analysts will be watching whether the trend accelerates into the traditionally busy summer selling season.
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