Sun Belt Buyers Finally Have the Upper Hand—For Now
If you’re house hunting this spring, your experience might hinge on where you’re looking. According to new data from Zillow, there are major differences in how competitive local markets are, and that might be the edge buyers have been waiting for in certain parts of the country.
Nationally, there are about 5.5 active shoppers for every home on the market. In cities like Boston and Buffalo, that number jumps to over 10. That kind of demand is what fuels bidding wars, homes selling in days, and prices getting pushed above asking. In fact, in Boston alone, nearly 53% of homes sold above list in March.
But in much of the Sun Belt, it’s a different story.
Twelve of the 14 least competitive metro areas are in the Sun Belt, places like Miami, Houston, and Memphis, where the number of active shoppers per listing is far lower. Miami leads the way with only 2.6 shoppers per home, meaning buyers may face less competition and have more negotiating room. In these markets, homes tend to sit a little longer, and sellers are more likely to make concessions. Nationwide, about 1 in 4 sellers have already dropped their price this spring, the highest percentage recorded for April.
This shift is happening partly because more sellers have entered the market, giving buyers more options. Inventory is up 20% over last year, helping to nudge things toward a more balanced playing field. That’s good news for buyers who’ve spent the past few years getting beat out in multiple-offer showdowns.
Of course, it still pays to be prepared. In hot markets, you’ll need a strong pre-approval and an agent who knows how to navigate tight timelines and strong competition. In cooler markets, it might be more about smart offers and understanding what motivates the seller.
So whether you’re buying or selling, the takeaway is this: real estate is still hyper-local. The same house could get 15 offers in one zip code and sit for a month in another.
Source: Zillow market data, May 2025