The US housing market has reached a record high imbalance between buyers and sellers. In October, there were more home sellers than buyers by 36.8 percent, the largest gap since at least 2013. This is considered a buyer’s market when there are over 10% more sellers than buyers.
Buyers, especially first-time ones, have been less motivated due to higher mortgage rates and expensive homes compared to five years ago. Sellers want top dollar, while buyers focus on affordable monthly payments. This mismatch in expectations makes it hard for both parties to agree, often leading to buyers winning negotiations because of their options.
A slight drop in mortgage rates increased affordability, driving a surge in sellers listing homes and accepting offers from buyers. The number of homebuyers decreased by 1.7% in October, the lowest level on record since April 2020.
The market imbalance varies by region, with San Antonio being the most imbalanced in favor of sellers (117%). Other cities like Austin, Miami, Fort Lauderdale, and Nashville also have high seller-to-buyer ratios.
However, some areas are experiencing a shift. Sun Belt markets that saw a surge during the pandemic now have more homes than buyers, leading to a seller’s market. The strongest seller’s market in October was Nassau County, New York, with fewer sellers than buyers by 37.4%.
Source: https://www.inman.com/2025/11/19/october-brought-the-strongest-buyers-market-in-12-years-redfin