Real Estate
Home›Real Estate›Residential›U.S. home sellers outnumber buyers by 48.5% in June
U.S. home sellers outnumber buyers by 48.5% in June
Redfin estimates sellers rose 0.4% month over month to 1,496,490, while buyers increased 0.5% to 1,007,735, leaving the seller-buyer gap mostly unchanged from May.
Redfin estimates that in June there were 48.5% more home sellers than buyers in the U.S. housing market, a buyer-market setup that typically gives buyers more leverage in negotiations. The gap narrowed only slightly from 48.7% in May, after peaking at 50.1% in December, and the report defines a buyer’s market as one with more than 10% extra sellers versus buyers.
The imbalance reflects Redfin’s estimate that there were 1,496,490 home sellers in June, up 0.4% month over month and the highest level since 2020. At the same time, Redfin puts the number of buyers at 1,007,735, up 0.5% from the prior month, which helps explain why the gap was mostly unchanged between May and June.
Redfin says markets skew buyer-favored when sellers outnumber buyers, because buyers often have more options. It also notes that this buyer-market dynamic is most relevant for households able to afford current home prices and still face high mortgage rates and economic uncertainty.
Redfin analyst Asad Khan, a senior economist at the company, said affordability remains the biggest hurdle for would-be buyers, but buyers with budgets can negotiate more effectively. Redfin reports that roughly 70% of the U.S. housing markets it analyzed, 33 of 47 metro areas, are buyer’s markets.