Authored by Rob Sabo via The Epoch Times,
Homebuyers held more leverage over sellers in May, with sellers outpacing prospective buyers in 35 of the nation’s 50 most populous metropolitan markets, according to a June 9 report from real estate brokerage Redfin.
The number of sellers reached its highest level since 2020.
Home sellers outnumbered buyers by nearly 47 percent for the month, up slightly from 46.4 percent in April, but retreating slightly from the peak of 49.5 percent in December 2025, Redfin researchers said.
The numbers are in stark contrast to 2021, when there were 36.4 percent fewer sellers than buyers as mortgage rates under 3 percent sparked a buying frenzy.
A typical buyer’s market has 10 percent more sellers than buyers, which gives prospective buyers greater negotiating power since there are an abundance of homes from which to choose.
“While the gap between homebuyers and sellers has narrowed slightly since the end of last year, house hunters still have far more negotiating power and less pressure to make rushed decisions,” Redfin senior economist Asad Khan said.
“Buyers in most of the country can be selective and ask for concessions, while sellers still need to price competitively to stand out.”
There were more than 1.48 million sellers in May, up by 0.4 percent from the previous month and the highest number of home listings since 2020, Redfin noted. On the other side of the equation, just 1.01 million buyers were looking for new residences.
Sellers entered the market in greater numbers in April in part due to a slight easing in mortgage rates, but buying demand compressed in May as mortgage rates crept higher, Redfin noted. The average 30-year fixed-rate mortgage for the week ending June 4 was 6.48 percent, Freddie Mac reported. At the end of May, however, that rate hit a year-high at 6.53 percent.
Existing home sales increased by 3.2 percent in May, while total for-sale inventory ticked up by 3.2 percent, the National Association of Realtors reported. Homebuying may be slightly slower through the final two quarters of the year, however, as interest rates are expected to remain unchanged until the summer of 2027, Goldman Sachs researchers said. Elevated mortgage rates reduce homeowner affordability.
Multiple Sun Belt metros lead the nation in seller imbalance. The strongest buyers’ market was Nashville, Tennessee, which had 17,494 hopeful sellers versus 7,614 prospective buyers, an imbalance of 129.8 percent.
Miami, Florida, had 122.3 percent more sellers than buyers (19,426 to 8,740), followed by three Texas cities: Austin at 116 percent (18,281 to 8,462), Houston at 110.8 percent (45,968 to 21,809), and San Antonio at 107.5 percent (19,552 to 9,423).
Buyers outnumbered sellers in a handful of markets, creating more favorable conditions for purchasers, Redfin stated. Nassau County, New York, had 38.3 percent more buyers than sellers, Milwaukee had 29.1 percent, and Montgomery County, Pennsylvania, had 24.9 percent. Sellers in those markets can benefit from higher sale prices, multiple bids, fewer concessions, and reduced time on market, according to Freddie Mac.