Summary
The U.S. housing market is seeing a large gap between the number of home sellers and buyers, a situation not seen since 2013. This imbalance is mainly due to high home prices and increased costs, causing many buyers to stay away. Experts note that while sellers outnumber buyers, the market is not overwhelmed with too many homes for sale.
Key Facts
- There are 529,770 more home sellers than buyers in the United States, according to Redfin.
- This gap is the largest since 2013, with a reported 47.1% more sellers than buyers.
- The median home sale price is around $428,000, which is too high for many potential buyers.
- Increased costs, such as insurance and property taxes, are making homeownership more expensive.
- Some homeowners are selling due to affordability issues, while investors aim to sell at peak prices.
- The situation is considered a "demand collapse" rather than a "supply boom."
- Current homeowners with low mortgage rates are reluctant to sell, leading to fewer home transactions.
