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2w ago

US Housing Market Shifts to Buyers as Sellers Outnumber Buyers by 500,000

Redfin predicts a 1% home price decline by year’s end with swelling inventories under elevated mortgage rates.

Helicopter shot of residential streets in Montgomery County, Maryland, north of Washington, D.C. on a hazy afternoon in Fall.
Row houses are seen in the afternoon on a spring day on May 23, 2025, in Washington, DC.
A For Sale sign for a multi-million dollar residential home in Reno, Nevada on May 6, 2024.
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Overview

  • Sellers outnumbered buyers by nearly 500,000 in April, the largest gap recorded by Redfin since 2013.
  • Listings have surged to levels not seen since March 2020, signaling growing choice for buyers.
  • April’s median existing home price rose 1.8% year-over-year to $414,000, marking the 22nd consecutive month of gains.
  • The average rate on a 30-year fixed mortgage hovers just under 7%, curtailing affordability for many buyers.
  • Condo listings exceeded buyer demand by 83% in April, highlighting pronounced weakness in that segment.