Buyers Regain Leverage in More Markets—But Not Everywhere
It’s been a long time since homebuyers had the upper hand, but in some parts of the country, the tide is turning. According to a new report from Realtor.com, a growing number of major U.S. metros have crossed into buyer’s market territory, meaning supply has outpaced demand and buyers are finally in a position to negotiate again.
What’s driving the shift? Inventory. In cities like Denver, Miami, Orlando, and Austin, the number of homes for sale has climbed steadily while buyer demand cooled due to affordability concerns and higher mortgage rates. Realtor.com’s economists consider six months of supply the tipping point. Below that, it’s a seller’s market. Above that, buyers start to take control. By late summer, 11 of the top 50 U.S. metros had crossed that line.
In Denver, for example, months of supply hit 6.1 in August, up from 4.9 at the start of summer. Nashville jumped from 5.8 to 6.4 during the same period, fueled by a surge in new listings and homes sitting longer on the market. In both cities, sellers have responded by cutting prices or offering concessions, like mortgage buydowns. to attract buyers. Orlando, meanwhile, saw the steepest spike, reaching 8.7 months of supply by the end of August.
That said, this shift is still highly regional. Most buyer’s markets are clustered in the South and West, where home prices climbed the fastest over the past few years. And in some places, sellers haven’t fully accepted the new reality, leading to overpriced listings and delistings. For buyers who’ve been sitting on the sidelines, now might be the moment to re-engage, but with patience and a realistic view of what’s happening locally.
Date Source: Realtor.com