Home Sellers Outnumber Buyers in Weak U.S. Housing Market, Redfin Says

Homebuyers are not showing up in large numbers this spring, as demand in the U.S. housing market remains subdued.

Housing inventory rises as buyer demand weakens across key US markets.

Real estate brokerage Redfin estimates there were about 1.39 million homebuyers in the market last month, close to the recent low of 1.38 million recorded at the onset of the COVID-19 pandemic in April 2020, according to a report by Claire Boston for Yahoo Finance.

The latest figures represent a 10% decline compared with March 2025. Meanwhile, about 1.99 million homeowners are looking to sell, slightly higher than a year ago but down 0.5% from the previous month.

This imbalance between buyers and sellers is shifting more housing markets in favor of buyers.

Redfin found that only five of the 50 largest metro areas remain sellers’ markets, where buyers outnumber sellers: Newark; Nassau County on Long Island; Montgomery County near Philadelphia; Milwaukee; and New Brunswick.

In these areas, home prices rose 4.8% year over year, compared with a 1.6% increase in buyer’s markets.

Seller’s markets remain prevalent across New Jersey and other Northeastern metro areas, supported by persistent demand, limited new housing supply, and relatively higher incomes.

By contrast, buyers hold the strongest advantage in Miami, where there are nearly 2.5 times as many sellers as buyers. Other buyer-friendly markets include Nashville, Austin, San Antonio, and Las Vegas.