According to a recent Redfin post, the U.S. is seeing the strongest buyer's market on record, as the increase in inventory outpaces the number of home sales.
Nashville holds the number 1 spot with an estimated 139% more home sellers than buyers, followed narrowly by Miami in 2nd place with 138% more sellers than home buyers. In 3rd place it's Houston, TX with 131% more home sellers than buyers.
An increase in listings that is exceeding the amount of home sales is pushing many markets in the U.S. into buyer's market territory. This has been particularly the case for the sunbelt states because they have some of the most active homebuilding pipelines with new build homes continuing to hit the market, building up inventory even as demand cools.
Across many states, the demand for home buying has cooled due to higher interest rates, now hovering above 7%, and steady (if not still increasing) home prices, combined with rising insurance costs and HOA fees. These factors have priced many first time homebuyers out of the market, further fueling a drop in home buying demand.
The latest report from the Houston Association of Realtors showed the single-family home sales were down 11.5% in August from 2025, and the median price of existing single-family homes decreased slightly by 1%.
New construction homes have been promoting sales price reductions, promotional concessions towards closing costs or rate buy downs, and other incentives to drive interest and sales.
Now more than ever, home sellers will need to be aggressive and competitive, pricing their home for today's market, and making sure their home is prepped, staged, and marketed to stand out from the rest. Pricing a home right today can mean not just reducing the sales price, but also offering concessions that can help drive more buyer demand.
For buyers, rising interest rates and the increased cost of home ownership may feel daunting, but with more inventory than demand, buyers have the opportunity to not only find the right home but also get a great deal on a home. Not only is there more choice available, we're seeing more sellers reduce pricing and offering concessions, as well as being more open to negotiating repairs.
If you have questions on what buying a home, or selling a home, in today's market could look like for you, reach out and let's talk!
