PR Newswire·Nov 12, 2026, 7:30 AM ET

Just 3 Major U.S. Metros Are Seller's Markets--the Fewest Since the Pandemic Freeze

Nationwide, home sellers outnumbered buyers by 70.5% in October, the widest gap since at least 2013.
Only three of the 50 most populous U.S. metro areas were seller's markets in October: Nassau County, NY; Newark, NJ; & Montgomery County, PA.
All three seller's markets saw their advantage shrink in October compared to September.
Home-sale prices rose 3.3% year over year in the three seller's markets, compared to a 0.3% increase in buyer's markets.
The number of homebuyers dropped to a record low of 895,752 in October, while the number of sellers rose to 1,526,984.
Mortgage rates averaged 7.33% in October, up from 6.86% in September, contributing to fewer buyers entering the market.
Over 80% of U.S. metro areas were buyer's markets in October, with Miami (195.8% surplus sellers), Nashville (159.5%), & Las Vegas (149.9%) having the largest surpluses.
The Sun Belt drives the extreme buyer's market conditions due to robust homebuilding & cooling demand.
Six metros were classified as balanced markets in October, including Chicago, Boston, & San Francisco.
The seller surplus grew month over month in 34 of the 41 buyer's markets analyzed by Redfin.
Negotiating power for buyers weakened in seven buyer's markets, including Fort Worth, TX; Austin; & Dallas.
Redfin defines a buyer's market as having over 10% more sellers than buyers, while a seller's market has over 10% fewer sellers than buyers.