Just 3 Major U.S. Metros Are Seller's Markets--the Fewest Since the Pandemic Freeze
Home-sale prices rose an average of 3.3% year over year across the three seller's markets, versus 0.3% across buyer's markets.
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Redfin, the brokerage powered by Rocket (RKT), reported that only three major U.S. metros were seller's markets in October. That matched April 2020 for the fewest in records dating back to 2016. Nassau County, Newark and Montgomery County, Pennsylvania, were the three, and each shifted closer to balance.
Nationally, sellers outnumbered buyers by an estimated 70.5%, the widest gap since records began in 2013, versus 65.6% in September. Estimated buyers fell 2% month over month to 895,752, a record low, while sellers rose 0.9% to 1,526,984. Average mortgage rates increased to 7.33% from 6.86% in September.
Of the 50 metros analyzed, 41 were buyer's markets and six were balanced. Miami had the largest seller surplus at 195.8%, followed by Nashville at 159.5% and Las Vegas at 149.9%. Redfin cautioned that buyer-friendly conditions do not resolve affordability barriers.
Key Figures
- Seller's-market metros
- 3 of 50
- October; tied for the fewest in records dating to 2016
- National seller surplus
- 70.5%
- More home sellers than buyers in October; record high
- Homebuyers
- 895,752
- October; lowest level in records dating to 2013
- Home sellers
- 1,526,984
- October; most since March 2020
- Home-sale price change
- 3.3% year over year
- Average across the three seller's markets in October
- Home-sale price change
- 0.3% year over year
- Across buyer's markets in October
- Mortgage rates
- 7.33%
- October average, compared with 6.86% in September
AI-generated analysis. How Rhea-AI works. Not financial advice.
Nationwide, house hunters had more negotiating power in October than at any point since at least 2013, with
The seller's markets are places where limited homebuilding has kept housing supply tight. In the greater
"Buyers looking in these pockets of the Northeast should be prepared for a very different experience than buyers elsewhere in the country," said Redfin Senior Economist Asad Khan. "They may have less room to negotiate, especially on desirable, move-in-ready homes, and could face multiple-offer situations. If you're shopping in one of these markets, it's especially important to know your budget, be ready to act when the right home comes along and avoid getting swept up in a bidding war."
Home Sellers Outnumber Buyers Nationwide By Widest Margin Since at Least 2013 For 6th Straight Month
Seller's markets are the exception to a national picture that heavily favors buyers.
Nationwide, homebuyers have more negotiating power than at any point in Redfin's records. There were an estimated
That marks the sixth record-breaking month in a row, and the margin is up from
When sellers outnumber buyers, buyers typically have more negotiating power because they have options. That's why a market with a lot more sellers than buyers is considered a buyer's market. Redfin defines a market where there are over
It's only a buyer's market for people who can afford to buy. High housing costs and economic jitters have pushed many would-be homebuyers to back off in recent years, creating the imbalance between buyers and sellers seen today.
"A buyer-friendly market can help make homeownership a little more attainable, even if it doesn't solve the affordability challenges that have kept many people on the sidelines," Khan said. "Sellers are increasingly competing for buyers' attention, which can translate into price reductions, concessions and other savings. First-time buyers don't have equity from a previous home to put toward a purchase, which makes saving for a down payment a big hurdle—but they also don't have to sell a home before they can buy or give up a low mortgage rate. With a historic buyer's market and home prices that are finally ticking down after three years of increases, first-time buyers who have been waiting—and can afford today's costs—may have an opportunity to make a move."
Homebuyer Count Drops to New Record Low, Widening the Buyer-Seller Gap
The gap between buyers and sellers widened in October because would-be buyers retreated, while sellers continued listing their homes, albeit at a sluggish pace.
There were an estimated 895,752 homebuyers in the market nationwide in October, the lowest level in records dating back to 2013. That's down
On the flip side, there were an estimated 1,526,984 home sellers in the market, the most since March 2020. That's up
The number of homes on the market is piling up because many homes are lingering on the market for months without going under contract. Each month, more new listings are adding to the big pool of supply.
Some homeowners keep listing their houses despite falling demand because many have given up on waiting for lower rates. They may want to sell now because they're worried prices could decline, and some need to move for a new job, a growing family, or another life change. But many homeowners who don't need to move have substantial equity and little pressure to sell, so they may hold off on listing.
Buyers Have More Negotiating Power in Miami Than Anywhere Else in the Country
Over
For the third month in a row,
The Sun Belt, particularly
Six metros were "balanced" in October, neither buyer's nor seller's markets:
In Nearly All the Buyer's Markets, Buyers Got Even More Power
The surplus of home sellers over buyers grew month over month in 34 of the 41 buyer's markets in October.
The surplus increased most in
House hunters lost negotiating power in seven buyer's markets. The surplus of sellers over buyers fell from September to October in
To read the full report, including charts and additional metro-level data, please visit: https://www.redfin.com/news/buyers-vs-sellers-october-2026
About Redfin
Redfin is a technology-driven real estate company with the country's most-visited real estate brokerage website. As part of Rocket Companies (NYSE: RKT), Redfin is creating an integrated homeownership platform from search to close to make the dream of homeownership more affordable and accessible for everyone. Redfin's clients can see homes first with on-demand tours, easily apply for a home loan with Rocket Mortgage, and save thousands in fees while working with a top local agent.
You can find more information about Redfin and get the latest housing market data and research at https://www.redfin.com/news. For more information about Rocket Companies, visit https://www.rocketcompanies.com.
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SOURCE Redfin
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
Which metros were seller's markets in Redfin's October 2026 housing report?
Nassau County, New York; Newark, New Jersey; and Montgomery County, Pennsylvania, were the only seller's markets among the 50 metros analyzed. Nassau County had 24.7% fewer sellers than buyers, Newark had 14.3% fewer, and Montgomery County had 12.1% fewer.
How does Redfin define buyer's, seller's and balanced housing markets?
Redfin defines a buyer's market as having over 10% more sellers than buyers and a seller's market as having over 10% fewer sellers than buyers. A gap within plus or minus 10% is considered balanced.