{"id":7598,"date":"2026-07-12T07:44:04","date_gmt":"2026-07-12T11:44:04","guid":{"rendered":"https:\/\/www.deeds.com\/articles\/?p=7598"},"modified":"2026-07-12T07:44:05","modified_gmt":"2026-07-12T11:44:05","slug":"boomtowns-become-buyers-markets-but-dont-let-the-phrase-fool-you","status":"publish","type":"post","link":"https:\/\/www.deeds.com\/articles\/boomtowns-become-buyers-markets-but-dont-let-the-phrase-fool-you\/","title":{"rendered":"Boomtowns Become \u201cBuyer\u2019s Markets\u201d\u2014but Don\u2019t Let the Phrase Fool You"},"content":{"rendered":"\n
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The U.S. housing market is now \u201cfirmly in favor of buyers,\u201d Redfin says, citing the large number of sellers agreeing to offer concessions to buyers this year.<\/p>\n\n\n\n

Redfin, the real estate brokerage owned by Rocket Companies, defines a buyer\u2019s market as a city or town where sellers outnumber buyers by at least 10%. Redfin points to Sun Belt cities\u2014mainly Nashville, Miami, and a slew of Texas cities led by Austin, Houston, and San Antonio\u2014as examples of this season\u2019s buyer\u2019s markets.<\/p>\n\n\n\n

OK. But that doesn\u2019t mean it\u2019s easy to afford a home\u2014even in these places. Buyers are dealing with elevated mortgage rates, so they must<\/em> choose carefully. And yes, they want sellers to offer price reductions and other concessions.<\/p>\n\n\n\n

And another thing: bidding wars haven\u2019t ended for homes that attract attention in and around the country\u2019s most popular cities. It\u2019s not easy to buy a home in a popular neighborhood anywhere. With this caveat about buyer\u2019s markets, let\u2019s see what\u2019s happening where.<\/p>\n\n\n\n\n\n\n\n

It\u2019s Tough Out There, and It\u2019s Not Just You.<\/h2>\n\n\n\n

Redfin has indeed found a number of U.S. metro areas where buyers face intense competition.<\/p>\n\n\n\n

Long Island, New York, is number one on the list.<\/p>\n\n\n\n

Buyers are also struggling to gain a foothold in Milwaukee; suburban Philadelphia; New Jersey\u2019s big cities; Providence, Rhode Island; and\u2014oh, yes\u2014San Francisco<\/a>. The Bay Area is attracting wealthy buyers amid the AI boom. Some Bay Area sellers are even receiving millions of dollars above their asking prices.<\/p>\n\n\n\n

On average, home prices across these hot markets have risen more than 4% since last year. Even in the most buyer-friendly metro areas, home-price growth is close to 2%. It\u2019s not as though there are basement bargains all over the country.<\/p>\n\n\n\n

Which Cities Have the Bargains?<\/h2>\n\n\n\n

So, what\u2019s a comparatively<\/em> better market for buyers this year? Nashville could prove best overall, with 130% more sellers than buyers. That puts the ratio of sellers to buyers as high as it\u2019s been since 2013. Bonus: Tennessee boasts one of the lowest tax burdens in the United States.<\/p>\n\n\n\n

The shortage of active buyers is taking sellers aback. Many are surprised that they have to lower their prices to attract offers. Some potential sellers won\u2019t budge, so more listings are going stale. In real estate lingo, a listing is considered \u201cstale\u201d when it has been on the market for at least 60 days without going under contract. Some homes with stale listings are being offered for rent, according to Zillow analysts.<\/p>\n\n\n\n

Then there\u2019s St. Louis. It was fairly balanced early this year, but now has 15% more sellers than buyers. Oakland has 31% more sellers than buyers, so that could be the best opportunity in pricey California.<\/p>\n\n\n\n

Other cities and surrounding areas where sellers outnumber buyers include Miami and three formerly hot Texas markets: Austin, San Antonio, and Houston. Sun Belt cities, especially those in Florida and Texas, have added substantial housing supply in recent years. Developers saw an opportunity after COVID-19 struck, as many workers moved to warmer climates because they could work remotely. They built so much, so fast, that supply outpaced buyer demand. Now, with mortgage rates elevated, there are more sellers than buyers who are in a position to qualify for loans and purchase homes.<\/p>\n\n\n\n

Now, geopolitical tensions and economic uncertainty are putting a damper on buying. At the same time, the pool of buyers has shrunk as soaring housing costs in recent years have priced many people out of the market.<\/p>\n\n\n\n

In short: competition has eased because<\/em> it\u2019s hard to buy. Calling this a buyer\u2019s market could paint a misleading picture for many hopeful buyers.<\/p>\n\n\n\n

Where Homes Are Sitting on the Market for Two Months or More<\/h2>\n\n\n\n

Redfin has published a top-10 list of metro areas loaded with stale listings:<\/p>\n\n\n\n