The U.S. housing market is undergoing a significant transformation. As of April 2025, there are approximately 1.9 million home sellers compared to 1.5 million buyers, marking a 34% surplus of sellers—the largest disparity since at least 2013. This imbalance suggests a cooling market, with potential price reductions on the horizon.
Several factors contribute to this trend:
- High Mortgage Rates: Elevated borrowing costs are deterring potential buyers, leading to decreased demand.
- Economic Uncertainty: Concerns about the broader economy are causing buyers to hesitate, further widening the gap between supply and demand.
- Easing of Mortgage Rate Lock-In Effect: Homeowners who previously held onto properties due to low mortgage rates are now entering the market, increasing inventory.
This shift is most pronounced in regions like Florida, where sellers outnumber buyers by a ratio of 3 to 1.
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