In sheer numbers, the gap between U.S. homebuyers and sellers is widening.
According to the latest count from Redfin, there are nearly 529,000 more people trying to sell their properties than there are folks looking to purchase a place.
The gap, says Redfin, stands at nearly 37%, marking the largest disparity reported since records started being kept in 2013.
By the realty brokerage firm’s definition 一 a market with 10% more sellers than buyers is a buyer’s market 一 it has been a buyer’s market since May 2024. There have been more than 30% more sellers than buyers since April 2025, and Redfin economists estimate that the last time there was a stronger buyer’s market was in the years following the 2008 financial crisis.
Of course, it’s only a buyer’s market for those who can afford to buy. Unfortunately, many people wanting to buy have been priced out of the market as affordability has eroded.
“There’s a shortage of both first-time buyers and repeat buyers because mortgage rates and home prices have gone up so much in recent years,” said Matt Purdy, a Redfin agent in the Denver area.
Then there’s the gap in expectations. Sellers want top dollar because they’re focused on recouping their investment, but buyers are focused on having a low monthly payment. The difference makes it tough for the sides to see eye-to-eye, but buyers tend to win the battle of wits because many sellers are desperate.
Redfin says the number of buyers slipped 1.7% month-over-month in October to an estimated 1.44 million. That’s not only the lowest level on record aside from April 2020, when the coronavirus pandemic brought the housing market to a halt, it’s also the largest monthly decline since June.
Sellers have also been retreating, just not as quickly. The number of sellers fell 0.5% month-to-month to an estimated 1.97 million, the lowest level since February. It was the fifth-straight monthly decline in the number of sellers.
The strongest buyer’s markets were found to be in Texas and Florida, while the strongest seller’s markets were located in the Tri-State region of New York, New Jersey and Pennsylvania. Overall, 35 of the 50 most populous metros were buyer’s markets, nine were balanced markets, and six were seller’s markets.
