U.S. Housing Market Shifts Toward Buyers as Seller's Markets Shrink to Historic Lows
The U.S. housing market has reached a significant turning point, with home sellers outnumbering buyers by 70.5% in October—the widest margin since at least 2013. This trend marks the sixth consecutive month of record-breaking buyer leverage nationwide, driven largely by massive seller surpluses in Sun Belt regions like Miami, Nashville, and Las Vegas. Despite the national buyer's market, three Northeast metro areas—Nassau County (NY), Newark (NJ), and Montgomery County (PA)—remain rare seller's markets due to tight housing supply and high demand near job centers. While these pockets face higher competition and rising prices, the broader national trend shows a significant shift in negotiating power toward homebuyers.
Topics: buyer negotiating power housing market real estate trends supply and demand