The last time the market tilted this far in buyers’ favor was after the 2008 financial crisis, Redfin economists said. Still, the advantage is limited to those who can afford to buy, as affordability remains a significant barrier.
Regional divides deepen
Texas and Florida led the nation’s buyer’s markets, with San Antonio showing a 117% surplus of sellers over buyers, followed by Austin (115%), Miami (108%), and Fort Lauderdale (107%).
The Sun Belt’s pandemic-era boom spurred homebuilding, swelling inventory. Florida’s market has also been pressured by rising insurance premiums and HOA fees, pushing some owners to exit.
In contrast, Nassau County, NY, posted the strongest seller’s market, with 37.4% fewer sellers than buyers.
Other seller-leaning regions included Newark, NJ, and Montgomery County, PA. San Francisco, after months as a buyer’s market, shifted to balanced territory, with buyers and sellers nearly even.