There Are Now Far More Sellers Than Buyers

What’s Happening?

The U.S. housing market has tilted sharply in buyers’ favor, and the gap between home sellers and buyers is now one of the largest in more than a decade.

According to the latest Redfin data, there were 44% more home sellers than buyers in January 2026, which translates to roughly 600,000 more sellers on the market than active buyers. This is the second-largest imbalance recorded since Redfin began tracking this data in 2013—only slightly below the record in December 2025.

In plain terms:

• There are a lot of homes for sale
• But very few buyers actively looking
• And buyer demand is at or near record lows, even as sellers continue to list properties

This dynamic has pushed the national market firmly into buyer-friendly territory, defined as any market with more than 10% more sellers than buyers (a status the U.S. has held since mid-2024!).

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Why Has This Gap Widened?

Several forces are contributing to this imbalance:

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1. Low Buyer Demand

The number of active homebuyers has fallen to its lowest level on record, down year-over-year due to high home prices, elevated mortgage rates, and economic uncertainty (jobs, inflation, political concerns). Even though mortgage rates recently dipped near 6%, buyer activity remains weak. Many prospective buyers are priced out, sidelined, or simply choosing to wait.

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2. Supply Still Elevated

While both buyer and seller activity has cooled, inventory hasn’t dried up as quickly as buyer demand has fallen. That expands choices for the buyers who can buy, increasing their negotiating leverage.

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3. Regional Differences

Not all markets look the same:

• Sun Belt and West Coast metros like Miami, Fort Lauderdale, Austin, and San Antonio now have well over twice as many sellers as buyers.
• Only a handful of Northeast and Midwest markets (e.g., Newark & Nassau County) still have more buyers than sellers due to tighter inventory.

This divergence shows that localized conditions—permits, job markets, insurance costs, and weather patterns—still drive micro-market behavior.

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Buyers Are In Control...But With Limits

Buyers who can qualify for loans and enter the market today have an edge:

• More homes to choose from
• Greater ability to negotiate price, repairs, closing costs
• Sellers who listed at higher price points may be more willing to compromise

That can create great opportunities for agents working with qualified buyers. But here’s the catch:
This buyer leverage only matters if buyers are actually in the market. With demand so low, the pace of transactions remains muted—and that’s weighing on total dollar volume.

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Disclaimer: This content is meant for informational purposes only and is not intended to be construed as financial, tax, legal, or insurance advice.