U.S. Home Sellers Outnumber Buyers by 63%, Widest Gap in 13 Years
Redfin data shows buyer demand at a record low while seller supply hits its highest point since 2020, reshaping markets nationwide.
The gap between home sellers and buyers in the United States has widened to its largest margin in at least 13 years, with sellers now outnumbering buyers by 63%, according to new data from Redfin. Buyer activity fell to the lowest level recorded since the firm began tracking the metric in 2013, while the volume of sellers climbed to its highest point since 2020.
The imbalance has tipped the scales in favor of buyers across a broad swath of the country. Forty-one of the 50 most populous U.S. metro areas now qualify as buyer's markets — the most ever recorded in Redfin's dataset. Miami, Nashville, and Houston ranked among the markets where buyers hold the greatest advantage.
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The shift marks a dramatic reversal from the pandemic-era housing frenzy, when historically low mortgage rates and surging demand gave sellers near-total leverage. Persistently elevated interest rates in the years since have steadily cooled buyer appetite, even as more homeowners have chosen to list their properties.
For prospective buyers who have sat on the sidelines, the conditions represent a meaningful opening — more inventory, less competition, and greater room to negotiate on price and contingencies. However, affordability constraints driven by still-high mortgage rates continue to limit how many potential buyers can realistically act on that advantage.
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