Property Buyers Hold the Negotiating Power In 38 Significant Metros, Up From 29 In 2015

• Nationally, sellers surpass buyers by 43%– simply shy of the biggest space in records dating back to 2013. When sellers outnumber purchasers, the purchasers who are in the marketplace have bargaining power.

• 38 of the most populated metro areas were buyer’s markets in March, up from 29 a year previously. Simply 5 were seller’s markets, below nine in 2025.

• Home prices rose 5% throughout seller’s markets last month, compared with a 2% increase in buyer’s markets.

There were an approximated 43.1% more home sellers than buyers in the U.S. real estate market in March (or 600,168 more, in mathematical terms). That’s just shy of the biggest gap in records dating back to 2013 and is up from 28% (or 432,532) a year earlier. The largest space on record is 45.2% in December 2025.

We specify a market where there are over 10% more sellers than buyers as a purchaser’s market and a market where there are over 10% less sellers than purchasers as a seller’s market. A market where the gap is plus or minus 10 %is considered a well balanced market.

By this meaning, it has actually been a buyer’s market since May 2024. When sellers surpass buyers, purchasers usually hold the working out power since they have choices. That’s why a market with a lot more sellers than buyers is thought about a purchaser’s market. Obviously, it’s just a buyer’s market for those who can afford to purchase. High real estate expenses and financial uncertainty have actually triggered many house hunters to pull back, developing an imbalance of buyers and sellers.

“High real estate tax, rising insurance costs and worries about job security are making property buyers extremely selective,” said Barb Cooper, a Redfin Premier property representative in Austin, TX, where sellers surpass buyers by 112%. “The buyers who remain in the market want turnkey homes in every sense, and they can afford to wait without jeopardizing due to the fact that we have lots of stock.”

We estimated the variety of buyers utilizing proprietary Redfin information on the common time from a buyer’s very first trip to close of purchase, and MLS data on active listings and pending sales. The approximated variety of sellers in the market is simply the number of active listings in the MLS. These price quotes, along with median-sale price data in this report, are seasonally adjusted and subject to revision. See a more comprehensive method here and view an interactive control panel here.

Buyers Are Pulling away, Which Is Triggering Some Sellers to Retreat

There were an estimated 1.39 million homebuyers in the market in March, just shy of the 1.38 million record low hit in April 2020– the start of the pandemic. That’s bit altered from a month earlier but down 10% from a year previously.

There were an estimated 1.99 million sellers in the market– the lowest level in a year. That’s down 0.5% from a month previously and up 0.7% from a year previously.

Home sellers have been pulling back in part due to lackluster need from buyers. Some sellers are delisting after seeing their homes sit on the market, while others are picking not to list at all after seeing neighboring homes cost below the asking cost. Redfin did report last month that relistings are beginning to increase as sellers bet on a spring uptick in demand.

There Are 38 Buyer’s Markets, Down From 29 In 2015

Thirty-eight of the 49 U.S. metropolitan areas Redfin evaluated were purchaser’s markets in March, up from 29 a year previously. In five of those markets, there were over twice as numerous sellers as purchasers.

The strongest buyer’s market was Miami, which had an approximated 148% more sellers than buyers. Next came Nashville (119%), Austin, TX (112%), San Antonio (109%) and Las Vegas (101%). Redfin examined the 50 most populated U.S. metropolitan areas and included in this analysis the 49 with sufficient data.

The Sun Belt skyrocketed in appeal throughout the pandemic, when scores of homebuyers moved in from more pricey parts of the country. To fulfill rising need, homebuilders increase activity, which is one reason there are now a lot more homes for sale than people who wish to buy them. The purchaser pool has actually likewise diminished due to the fact that soaring real estate expenses recently have priced many individuals out of the marketplace.

New building can have a substantial influence on whether working out power lies with buyers or sellers because it impacts the balance of supply and need. The South and the West have actually historically released the most constructing authorizations, while the Northeast and the Midwest (where the 5 seller’s markets are located) have actually issued the fewest.

Florida and Texas, in particular, build more homes than other states. Florida has likewise been coming to grips with magnifying natural catastrophes, soaring insurance coverage premiums and rising apartment HOA charges, which has actually prompted some house owners to leave. Miami, specifically, regularly appears as a purchaser’s market because it has a great deal of real estate supply, which might be in part due to the high number of apartments.

There Are 5 Seller’s Markets, Down From 9 In 2015

Simply five of the metros Redfin analyzed were seller’s markets in March, down from 9 a year previously.

The greatest seller’s market in March was Newark, NJ, which had actually an estimated 30.4% fewer sellers than purchasers. The other 4 seller’s markets were Nassau County, NY (-28%) Montgomery County, PA (-26.2%), Milwaukee (-19.7%) and New Brunswick, NJ (-12.5%).

On average, home costs rose 4.8% year over year throughout the 5 seller’s markets in March, compared with a 1.6% increase throughout the 38 buyer’s markets– a sign that purchaser’s markets use house hunters more utilize.

Metro-Level Summary: 50 * A Lot Of Populated Metros (March 2026)

*Fort Lauderdale, FL has actually been gotten rid of due to inadequate information.