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US Housing Market Flips: Buyers Reign Supreme Nationwide
12 Jan
Summary
- Nationwide, sellers now outnumber buyers by 37 percent.
- Only seven US metro areas remain as seller's markets.
- Sun Belt markets show strong buyer advantage due to overbuilding.
America's housing market has entered a significant buyer's market, with almost the entire country now favoring purchasers. Nationwide, there are 37 percent more sellers than buyers, the largest imbalance in ten years, suggesting a continued trend of price reductions. Only seven metropolitan areas—six in the Northeast and Midwest, and one on the West Coast—maintain seller-friendly conditions, characterized by stable job markets and limited housing inventory.
Areas like Nassau County, NY, Montgomery County, PA, Newark, NJ, New Brunswick, NJ, San Francisco, CA, Milwaukee, WI, and Cleveland, OH, are exceptions. These locations benefit from strong economies and low housing supply, which sustain demand despite national cooling. In contrast, many Sun Belt markets, including Florida and Texas, have softened considerably. These regions experienced a surge in development during the pandemic, leading to an oversupply of homes now outpacing buyer demand.
