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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.
Economists note the current buyer-friendly conditions echo the 2008 financial crisis, with potential for modest improvement in 2026 as housing affordability might increase. However, the market is expected to remain in buyer's territory for the foreseeable future. Buyers in markets like Austin and Nashville, which have over 100 percent more sellers than buyers, now possess significant negotiating power.
