The balance of power in the U.S. housing market continues to shift, with home sellers now significantly outnumbering buyers nationwide.
A new analysis by Redfin shows that in January there were approximately 600,000 more sellers than buyers, representing a 44% gap. That marks one of the widest imbalances recorded since the brokerage began tracking the data in 2013.
According to reporting by the New York Post, the only time the gap was larger was in December 2025, when sellers exceeded buyers by 45%.
A Clear Buyer’s Market
Redfin classifies any market with more than 10% additional sellers as a buyer’s market. By that definition, the U.S. has been in buyer-friendly territory since May 2024.
In practical terms, when listings outpace demand this sharply, buyers gain negotiating leverage. With more options available, they can be selective, push for price reductions, and request concessions from sellers eager to close deals.
Demand at Record Lows
Redfin estimates there were about 1.36 million buyers in January — down 1% from December and 8% compared to a year earlier, making it the lowest level on record.
The number of sellers also declined 1% month over month to 1.96 million, marking the steepest monthly drop since June 2023 and the smallest total since February 2025. However, compared to January last year, the number of sellers was still up 2%.
Several factors are contributing to the cooling demand:
•Elevated mortgage rates
•High home prices
•Layoffs in certain sectors
•Broader economic and political uncertainty
These pressures have sidelined many prospective buyers, even as more homes remain on the market.
Sellers Adjusting Expectations
Some homeowners have pulled their listings after months without offers. Others have hesitated to sell after watching nearby properties close below asking prices. The result is a market where supply remains relatively elevated, but activity is subdued.
Only Five Major Metros Favor Sellers
Among the 50 largest U.S. metropolitan areas, just five qualified as sellers’ markets in January:
•Newark (31% fewer sellers than buyers)
•Nassau County (29% fewer)
•Milwaukee (26% fewer)
•Montgomery County (26% fewer)
•New Brunswick (17% fewer)
In Milwaukee, limited inventory continues to fuel competition. A local Redfin Premier agent noted that declining mortgage rates compared to six months and a year ago have encouraged some buyers to return, while supply remains tight at less than three months’ worth of homes.
Milwaukee posted an 11% year-over-year increase in median sale price in January — the largest jump among the top 50 metros.
Where Buyers Have the Edge
In contrast, several Sun Belt markets strongly favor buyers:
•Miami (159% more sellers than buyers)
•Fort Lauderdale (128% more)
•Austin (124% more)
•Nashville (120% more)
•San Antonio (114% more)
Across the five seller-leaning markets, home prices rose an average of 5% year over year. That compares with a 3% increase in balanced markets and just 1% growth in the 39 buyer-heavy markets — a sign that softer demand is cooling price growth in much of the country.
Regional Divide Emerging
Buyer-friendly conditions are most pronounced in parts of the South and along the West Coast, while tighter supply persists in sections of the Midwest and Northeast.
For now, the data suggest a national market where buyers hold more negotiating power than at any point in recent years — though conditions vary sharply by region, and local inventory levels remain a key factor shaping competition and prices.
Source: Africa Publicity
