🌅 A Record Gap Between Home Buyers and Sellers

SOURCE

Redfin

WHAT TO KNOW

• Redfin estimates show there were 1.922 million U.S. home sellers in June—a 12.8% increase from the same time last year—facing a market of just 1.413 million home buyers—down 8.9% from last year—leaving a gap of about 509,000. Put differently, there are 36% more sellers than buyers currently in the U.S. housing market, the widest gap on record and a major reversal from two years ago when buyers actually outnumbered sellers.

WHY IT MATTERS

• Redfin’s latest report found 31 of the nation’s top 50 metro areas are currently buyer’s markets (led by Miami, where sellers outnumber buyers roughly 3 to 1), which the company’s economists expect will help bring home prices down 1% nationwide by the end of the year. Despite any discount, home prices remain inflated from just a handful of years ago: the latest federal data shows the median price of a home sold during the second quarter of 2025 was $410,800, up 27% from the same period in 2019, before the housing market went haywire by outpacing both inflation and incomes.

CONNECT THE DOTS

• Nonetheless, the numbers say buyers have the upper hand and Redfin’s data suggests movement is finally happening. In June, 21.5% of homes sold on Redfin came with a price discount, a 4-percentage-point increase from a year ago, while 31% of homes sold for above their list price, a 4-point decrease from last year.