Redfin: Sellers Now Outnumber Buyers by Record Margin

(Image courtesy of Tim Mossholder/pexels.com)

Redfin, Seattle, reported there were a record 47.1% more sellers than buyers in December. That’s the largest such gap since 2013.

It’s also up 7.1 percentage points from November, in the largest monthly increase since September 2022. Year-over-year, the imbalance is up 22.2 percentage points.

Redfin defines a market where there are over 10% more sellers than buyers as a buyer’s market. A market with 10% fewer sellers than buyers is a seller’s market. A gap under 10% in either direction is a balanced market.

We have been in a buyer’s market since May 2024, the report noted.

The number of buyers in the market dropped 5.9% month-over-month to an estimated 1.34 million, the largest drop since March 2023 and the lowest level in records dating back to 2013.

The number of sellers fell 1.1% month-over-month to an estimated 1.97 million, the largest decline since June 2023 and the lowest level since February.

Austin, Texas, had the strongest buyer’s market among the top 50 largest markets, with 128% more sellers than buyers. Next was Fort Lauderdale, Fla., with 125% more sellers, Nashville, Tenn., with 111% more sellers, Miami, with 103% more sellers, and San Antonio, also with 103% more sellers.

Among the top 50, 36 were buyer’s markets, nine were balanced and five were seller’s markets.

Nassau County, N.Y., was the strongest seller’s market, with an estimated 33.4% fewer sellers than buyers. The other four seller’s markets were Montgomery County, Pa. (32.3% fewer sellers), Newark, N.J. (29.5% fewer sellers), Milwaukee (26.1% fewer sellers) and New Brunswick, N.J. (19.3% fewer sellers.)