• Education
    • Higher Education
    • Scholarships & Grants
    • Online Learning
    • School Reforms
    • Research & Innovation
  • Lifestyle
    • Travel
    • Food & Drink
    • Fashion & Beauty
    • Home & Living
    • Relationships & Family
  • Technology & Startups
    • Software & Apps
    • Startup Success Stories
    • Startups & Innovations
    • Tech Regulations
    • Venture Capital
    • Artificial Intelligence
    • Cybersecurity
    • Emerging Technologies
    • Gadgets & Devices
    • Industry Analysis
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy
Today Headline
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
Today Headline
No Result
View All Result
Home World News Us & Canada

Sellers outnumber prospective homebuyers as high prices, mortgage rates skew market

May 30, 2025
in Us & Canada
Reading Time: 4 mins read
A A
0
Sellers outnumber prospective homebuyers as high prices, mortgage rates skew market
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter


LOS ANGELES — Homeowners eager to sell may have to wait a while before a buyer comes along.

As of April, the U.S. housing market had nearly 34% more sellers than buyers shopping for a home, according to an analysis by Redfin.

Aside from April 2020, when the pandemic brought the economy and home sales activity to a standstill, there haven’t been this few buyers in the market for a home before, based on records that date back to 2013.

The trend is good news for home shoppers — if they can afford to buy at current mortgage rates and prices, which are still rising nationally, albeit more slowly.

Fewer buyers means less competition for home listings and more pressure on sellers to dial back their asking price and make other concessions to help get a deal done. That’s a stark reversal from just a few years ago, when it wasn’t uncommon for homeowners to receive offers well above their asking price from multiple home shoppers.

“The balance of power in the U.S. housing market has shifted toward buyers, but a lot of sellers have yet to see or accept the writing on the wall,” said Asad Khan, a senior economist at Redfin.

The lopsided balance between buyers and sellers is reflected in home sales, which remain in a slump going back to 2022, when mortgage rates began to climb from the rock-bottom lows they reached during the pandemic. Last year, sales of previously occupied U.S. homes sank to their lowest level in nearly 30 years. Sales fell last month to the slowest pace for the month of April going back to 2009.

Sellers began outnumbering buyers in November 2023, when the average rate on a 30-year mortgage climbed to a 23-year high of nearly 8%, according to mortgage buyer Freddie Mac. The average rate reached 6.89% this week, its highest level since early February.

All told, there were 1.9 million sellers and 1.5 million prospective homebuyers in April, or 490,041 fewer people in the market for a home relative to sellers. A year ago, there were 6.5% more sellers than buyers. Two years ago, buyers outnumbered sellers by 5.3%.

Redfin based its estimate of the number of sellers in April on active listings, or the number of homes for sale at any point during the month. It estimated the pool of people in the market for a home by creating a model that takes several other data into account, including the typical time it takes for a someone to buy after taking a tour of a home.

Faced with a market with fewer potential buyers, some sellers have opted to lower prices or offer sales incentives, such as agreeing to pay for a buyer’s closing costs or other expenses. Nearly 1 in 5 home listings had their price reduced last month, according to Realtor.com.

The growing imbalance between buyers and sellers should pull U.S. home prices 1% lower by the end of this year, according to Redfin.

Prices have already begun to decline in select metro areas. In the four weeks ended April 20, home prices fell in 11 of the top 50 most populous U.S. metro areas, including Dallas, Oakland, California, and Jacksonville, Florida, according to Redfin.

The market with the biggest gap between buyers and sellers is Miami, where sellers outnumber buyers by about 3 to 1, according to Redfin. The strongest seller’s market is Newark, New Jersey, with 47.1% fewer sellers than buyers.

Despite tipping more in favor of buyers, the housing market is likely to remain unaffordable for many Americans. The median U.S. home sales price has jumped 53% over the past six years, far outpacing wage growth.

And while the inventory of previously occupied U.S. homes climbed last month to the highest level since September 2020, it’s still well below pre-pandemic era levels and short on properties that most Americans can afford.

Before the pandemic, households earning $75,000 a year could afford to buy nearly half of all homes on the market nationally. As of March, only 21.2% of home listings were affordable, according to a recent analysis by the National Association of Realtors. A home is considered affordable if monthly payments don’t exceed 30% of household monthly income.

“Without a significant boost in housing inventory at price points below $260,000, the path to homeownership will remain blocked for millions of Americans who are otherwise financially ready to buy,” according to the NAR report.



Source link

Tags: 122346678ArticleBusinessBusiness OwnershipGeneral newshighHomebuyersmarketmortgagemortgagesoutnumberpricesprospectiveratesSellersskewU.S. news
Previous Post

The Supreme Court’s new decision targeting 500,000 immigrants, in Noem v. Doe, explained

Related Posts

Supreme Court lets Trump administration revoke status of over 500,000 migrants legally in U.S.

Supreme Court lets Trump administration revoke status of over 500,000 migrants legally in U.S.

May 30, 2025
4
Missing 10-year-old girl's remains identified after Panga boat capsized off California coast

Missing 10-year-old girl’s remains identified after Panga boat capsized off California coast

May 30, 2025
5
  • Trending
  • Comments
  • Latest
Family calls for change after B.C. nurse dies by suicide after attacks on the job

Family calls for change after B.C. nurse dies by suicide after attacks on the job

April 2, 2025
Pioneering 3D printing project shares successes

Product reduces TPH levels to non-hazardous status

November 27, 2024

Hospital Mergers Fail to Deliver Better Care or Lower Costs, Study Finds todayheadline

December 31, 2024

Police ID man who died after Corso Italia fight

December 23, 2024
Harris tells supporters 'never give up' and urges peaceful transfer of power

Harris tells supporters ‘never give up’ and urges peaceful transfer of power

0
Des Moines Man Accused Of Shooting Ex-Girlfriend's Mother

Des Moines Man Accused Of Shooting Ex-Girlfriend’s Mother

0

Trump ‘looks forward’ to White House meeting with Biden

0
Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

0
The Supreme Court’s new decision targeting 500,000 immigrants, in Noem v. Doe, explained

The Supreme Court’s new decision targeting 500,000 immigrants, in Noem v. Doe, explained

May 30, 2025
Impeach issue splits senators | The Manila Times

Impeach issue splits senators | The Manila Times

May 30, 2025
Rescuers work to extinguish a fire in a trolleybus depot after a drone strike on Kharkiv, Ukraine on May 30 2025

Ukraine to miss payment on GDP-linked debt

May 30, 2025

Flooding in Nigeria Flattens a Town, Killing at Least 56

May 30, 2025

Recent News

The Supreme Court’s new decision targeting 500,000 immigrants, in Noem v. Doe, explained

The Supreme Court’s new decision targeting 500,000 immigrants, in Noem v. Doe, explained

May 30, 2025
4
Impeach issue splits senators | The Manila Times

Impeach issue splits senators | The Manila Times

May 30, 2025
4
Rescuers work to extinguish a fire in a trolleybus depot after a drone strike on Kharkiv, Ukraine on May 30 2025

Ukraine to miss payment on GDP-linked debt

May 30, 2025
4

Flooding in Nigeria Flattens a Town, Killing at Least 56

May 30, 2025
3

TodayHeadline is a dynamic news website dedicated to delivering up-to-date and comprehensive news coverage from around the globe.

Follow Us

Browse by Category

  • Africa
  • Asia
  • Basketball
  • Business & Finance
  • Climate Change
  • Crime & Justice
  • Cybersecurity
  • Economic Policies
  • Elections
  • Entertainment
  • Entrepreneurship
  • Environmental Policies
  • Europe
  • Football
  • Gadgets & Devices
  • Health
  • Medical Research
  • Mental Health
  • Middle East
  • Motorsport
  • Olympics
  • Politics
  • Public Health
  • Relationships & Family
  • Science & Environment
  • Software & Apps
  • Space Exploration
  • Sports
  • Stock Market
  • Technology & Startups
  • Tennis
  • Travel
  • Uncategorized
  • Us & Canada
  • Wildlife & Conservation
  • World News

Recent News

The Supreme Court’s new decision targeting 500,000 immigrants, in Noem v. Doe, explained

The Supreme Court’s new decision targeting 500,000 immigrants, in Noem v. Doe, explained

May 30, 2025
Impeach issue splits senators | The Manila Times

Impeach issue splits senators | The Manila Times

May 30, 2025
  • Education
  • Lifestyle
  • Technology & Startups
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy

© 2024 Todayheadline.co

Welcome Back!

OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Business & Finance
  • Corporate News
  • Economic Policies
  • Entrepreneurship
  • Market Trends
  • Crime & Justice
  • Court Cases
  • Criminal Investigations
  • Cybercrime
  • Legal Reforms
  • Policing
  • Education
  • Higher Education
  • Online Learning
  • Entertainment
  • Awards & Festivals
  • Celebrity News
  • Movies
  • Music
  • Health
  • Fitness & Nutrition
  • Medical Breakthroughs
  • Mental Health
  • Pandemic Updates
  • Lifestyle
  • Fashion & Beauty
  • Food & Drink
  • Home & Living
  • Politics
  • Elections
  • Government Policies
  • International Relations
  • Legislative News
  • Political Parties
  • Africa
  • Asia
  • Europe
  • Middle East
  • Artificial Intelligence
  • Cybersecurity
  • Emerging Technologies
  • Gadgets & Devices
  • Industry Analysis
  • Basketball
  • Football
  • Motorsport
  • Olympics
  • Climate Change
  • Environmental Policies
  • Medical Research
  • Science & Environment
  • Space Exploration
  • Wildlife & Conservation
  • Sports
  • Tennis
  • Technology & Startups
  • Software & Apps
  • Startup Success Stories
  • Startups & Innovations
  • Tech Regulations
  • Venture Capital
  • Uncategorized
  • World News
  • Us & Canada
  • Public Health
  • Relationships & Family
  • Travel
  • Research & Innovation
  • Scholarships & Grants
  • School Reforms
  • Stock Market
  • TV & Streaming
  • Advertise with Us
  • Privacy & Policy
  • About us
  • Contact

© 2024 Todayheadline.co