Latest news with #buyersmarket
Yahoo
2 days ago
- Business
- Yahoo
It's Now a Buyer's Market in These 10 Cities — 6 Are in Florida
Across the U.S., there are now 500,000 more sellers than buyers, according to a new report from Redfin. 'At no other point in records dating back to 2013 have sellers outnumbered buyers this much,' the report states. 'In other words, it's a buyer's market.' Check Out: Learn More: Out of the top 50 metro areas, 31 are now buyer's markets. And in the top 10 buyer's markets, the percent of sellers far outpaces the percent of buyers. Here's a look at the top 10 markets where buyers have the best odds of scoring their dream homes. Number of sellers: 21,672 Number of buyers: 7,280 Sellers vs. buyers (% difference): 197.7% Median home sale price: $574,696 Also Find: Check Out: Number of sellers: 18,075 Number of buyers: 6,409 Sellers vs. buyers (% difference): 182% Median home sale price: $513,683 Explore More: Number of sellers: 21,018 Number of buyers: 7,525 Sellers vs. buyers (% difference): 179.3% Median home sale price: $451,709 Number of sellers: 17,386 Number of buyers: 7,757 Sellers vs. buyers (% difference): 124.1% Median home sale price: $433,990 Number of sellers: 14,479 Number of buyers: 6,598 Sellers vs. buyers (% difference): 119.5% Median home sale price: $368,311 Read More: Number of sellers: 26,917 Number of buyers: 12,313 Sellers vs. buyers (% difference): 118.6% Median home sale price: $371,028 Number of sellers: 32,418 Number of buyers: 16,159 Sellers vs. buyers (% difference): 100.6% Median home sale price: $452,290 Number of sellers: 13,814 Number of buyers: 7,192 Sellers vs. buyers (% difference): 92.1% Median home sale price: $448,605 For You: Number of sellers: 19,555 Number of buyers: 10,184 Sellers vs. buyers (% difference): 92% Median home sale price: $407,411 Number of sellers: 14,935 Number of buyers: 7,859 Sellers vs. buyers (% difference): 90% Median home sale price: $467,178 Editor's note: Data was sourced from Redfin and is accurate as of April 2025. More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard 6 Hybrid Vehicles To Stay Away From in Retirement I'm a Retired Boomer: 6 Bills I Canceled This Year That Were a Waste of Money This article originally appeared on It's Now a Buyer's Market in These 10 Cities — 6 Are in Florida Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Daily Mail
2 days ago
- Business
- Daily Mail
The eight tricks that will get you money off your dream home, by property guru PHIL SPENCER - including exactly how much to offer under asking price
It's a buyer's market at the moment with properties selling for £16,000 below asking price on average, according to Zoopla. Thanks to a glut of homes being listed, it has created an opportunity for canny buyers to muscle in, haggle and grab themselves a bargain.
Yahoo
5 days ago
- Business
- Yahoo
Graham Stephan Says Home Sellers Are Panicking About Dropping Home Values — but Should They Be?
Homebuyers might finally have the upper hand again in the U.S. housing market after years of being handcuffed by soaring prices and low inventory. The current market isn't exactly perfect for buyers, but it's definitely weakening for sellers — and some sellers are beginning to panic, according to real estate investor Graham Stephan. Read Next: Explore More: Whether you should start panicking depends on where you live. But as with anything related to money, you're better off staying calm instead of letting fear drive your decisions. Also see the six biggest challenges homebuyers could face in 2025 and how to avoid them. In a recent video posted to YouTube, Stephan said current trends in the U.S. housing market have sounded the alarm for Realtors and sellers across the country. 'For the first time since the great financial crisis [of 2008-09], the housing market has officially flipped and sellers are beginning to panic,' he said. 'As of now, there's an estimated 34% more homes for sale than there are offers. Sellers outnumber buyers by a record 500,000, which is the largest imbalance on record.' Stephan also said the U.S. is in the early stages of a buyer's market, where sellers are forced to negotiate down rather than commanding top dollar. 'Homes are sitting on the market for longer, and in 61% of the U.S., prices are starting to drop quite dramatically, depending on where you live,' he explained. Check Out: There's no question that the housing market has undergone a transformation in recent months. Pending home sales decreased 6.3% in April, according to the latest data from the National Association of Realtors (NAR). All four U.S. regions saw month-over-month losses in the number of transactions as many buyers continue to sit on the sidelines. 'At this critical stage of the housing market, it is all about mortgage rates,' NAR chief economist Lawrence Yun said in a May 29 press release. 'Despite an increase in housing inventory, we are not seeing higher home sales. Lower mortgage rates are essential to bring home buyers back into the housing market … Home buyers in nearly every region of the country are in a better position to negotiate more favorable terms.' For home sellers in some markets, those terms could mean selling for a lot less than they could have a year ago — which is why many are panicking. 'There will be more price reductions that are going on, and more willingness to sell at a lower number, especially in the next couple months. We've definitely seen people who have taken losses,' Jeff Lichtenstein, president of Echo Fine Properties, told The Wall Street Journal. Despite the shift from a seller's to a buyer's market in some parts of the country, many sellers still hold the upper hand. A report released earlier this month by Redfin noted that more than one-quarter (28%) of U.S. homes are selling above the asking price. That's down from 32% a year earlier and represents the lowest level for this time of year since 2020, but it still shows that there are pockets of the country where sellers can still earn a nice profit. Overall, however, the median sale price has been slipping below the median list price in most of the country. That's a big change from a few years ago, when the median sale price was typically much higher than the median list price. On the bright side, median sale prices are only about 7% below list prices — and in many cases, those list prices are well above what sellers originally paid for the home. More From GOBankingRates 10 Used Cars That Will Last Longer Than an Average New Vehicle This article originally appeared on Graham Stephan Says Home Sellers Are Panicking About Dropping Home Values — but Should They Be? Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 days ago
- Business
- Yahoo
Home Values Have Fallen In More Than Half The Country Since The Start Of 2025
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. America's housing affordability crisis has shackled would-be buyers for several years, but some relief may be on the horizon. A recent profile of the housing market by Newsweek shows that home values have declined in 27 out of 50 states since January. Newsweek cited a Zillow housing report, which recorded the largest monthly declines between March and April. Don't Miss: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Inspired by Uber and Airbnb – Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets – Housing market observers speculate that this downward movement in home values could signal a nationwide tilt toward a buyer's market. The markets with the largest declines in value were: Colorado Washington, D.C. California Florida Washington Arizona Louisiana Texas Georgia Florida home values are down by 0.55% statewide, making it the biggest loser in terms of home values. That's quite a 180-degree turn because Florida's real estate market was booming as recently as 2023. Buyers flocked to the state during and after the pandemic, which made Florida one of the country's hottest real estate markets. The buying boom resulted in a price spike, but buyers didn't necessarily feel its effects until the Fed began raising interest rates to curtail inflation. Unfortunately for many would-be buyers, and sellers too, the run-up in interest rates coincided with an insurance crisis that saw premiums and deductibles skyrocket. The high interest rates and finance costs are a perfect recipe for cooling off the housing market. Trending: , which provides access to a pool of short-term loans backed by residential real estate with just a $100 minimum. Nick Gerli, CEO of the Reventure real estate app, is particularly bearish on Florida real estate. "I don't think people understand what's happening in the housing market right now," Gerli posted on X, "Florida now has 177,00 listings. Highest level on record. Entire Northeast U.S. has 79,000 listings. Lowest level on record. People are leaving Florida. And moving back north." He also described it as "A structural trend that will likely last years, and cause Florida's housing market to decline for an extended period." Florida is not alone in dealing with a housing slowdown brought about by high financing and insurance costs. California and Texas residents have been grappling with those same issues, which probably explains their presence on the list of states with the largest declines in home value. "It is a bad combination of factors that are causing housing values to trend downward, even if we have yet to see that impact in home sale values and declining interest rates," said Alex Beene, who teaches financial literacy at the University of Tennessee at Martin. Gerli believes the downward trend indicates a market shift that could be widespread and long-lasting."I think this data holds key implications for housing market analysts, homebuyers, and investors in 2025," Gerli wrote in another X post. "The question isn't becoming 'if' prices will drop. But rather: where the drops are occurring. And by how much?" That will certainly come as a relief to buyers, but thus far, the declines haven't been big enough to spur a large-scale increase in purchasing activity. "It is the cost of the homes that remains the issue, and prices need to correct to make it more affordable for new buyers," said 9i Capital Group CEO Kevin Thompson. "I expect prices to continue to fall while rates remain higher, reaching a level where buyers and sellers can come to a good price in the future," he told Newsweek. "The timing of that is still up in the air, but it will definitely happen as all markets tend to correct where demand and supply meet.' Read Next: Maximize saving for your retirement and cut down on taxes: . Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – Image: Shutterstock This article Home Values Have Fallen In More Than Half The Country Since The Start Of 2025 originally appeared on
Yahoo
04-06-2025
- Business
- Yahoo
Home sellers outnumber buyers by record amount: What that means for prices
The Brief The U.S. housing market has nearly 500,000 more sellers than buyers, a recent analysis by Redfin found. History shows that home prices cool when sellers outnumber buyers. The strongest buyer's market is Miami, where sellers outnumber buyers roughly 3 to 1. The housing market is seeing a major shift in the number of buyers and sellers. By definition A so-called "buyer's market" is when the quantity of goods outnumbers potential buyers, meaning buyers are in a better position to have their pick of inventory and negotiate a deal. Big picture view According to Redfin, an online real estate brokerage company, as of April 2025, there are 500,000 more people selling homes than buying them. The backstory Redfin says the last time homebuyers were this low was during the start of the pandemic, and before that was in 2013. RELATED: These cities have the highest percentage of 'rich renters' as housing prices rise Why you should care A "buyer's market" means buyers have the advantage when it comes to inventory and negotiating. Redfin estimates that home prices will fall by 1% in the next few months because of the imbalance. Dig deeper The reason for the scarcity of home buyers is recent economic uncertainty and high home prices, and that some homeowners who were holding onto ultra low interest rates scored during the pandemic are now more willing to sell. "The idea of taking on a higher mortgage rate also isn't as shocking as it was when rates first skyrocketed in 2022," Redfin added. RELATED: Mortgage rates jumped slightly but remain under 7% By the numbers More than two of every five (44%) home listings in April had been on the market for 60 days or longer, the highest April share since 2020. The takeaway History shows that home prices cool when sellers outnumber buyers. Redfin recommends those considering selling do it sooner rather than later, before home prices in the area may fall. Those looking to buy a home will likely have increased purchasing power in the fall. Big picture view The strongest buyer's market is Miami, where sellers outnumber buyers roughly 3 to 1. The strongest seller's market is Newark, and the most balanced market is St. Louis, Redfin found. The Source Information in this article was taken from Redfin, an online real estate brokerage company, which analyzed its data to find the approximate ratio of buyers to sellers in the market. This story was reported from Detroit.
