Sun Belt buyers hold the most power this spring
According to Zillow's latest analysis, the Spring 2025 housing market shows significant regional variations in buyer competition. Nationwide, there are 5.5 engaged home shoppers per listing, with Northeast markets experiencing the highest competition. Buffalo, Hartford, Providence, and Boston see more than 10 buyers per listing, leading to bidding wars and quick sales.
The Sun Belt region offers more favorable conditions for buyers, with 12 of the 14 least competitive markets located there. Miami has the lowest competition, with only 2.6 shoppers per listing. The market is showing signs of balance with inventory up 20% year-over-year and 25% of sellers cutting prices - a record high for April. Despite continued affordability challenges, buyers have gained more negotiating power compared to recent springs.
Secondo l'ultima analisi di Zillow, il mercato immobiliare della primavera 2025 presenta significative variazioni regionali nella competizione tra acquirenti. A livello nazionale, ci sono 5,5 acquirenti interessati per ogni annuncio, con i mercati del Nordest che registrano la competizione più alta. Buffalo, Hartford, Providence e Boston vedono più di 10 acquirenti per annuncio, causando gare d'appalto e vendite rapide.
La regione del Sun Belt offre condizioni più favorevoli per gli acquirenti, con 12 dei 14 mercati meno competitivi situati proprio lì. Miami ha la competizione più bassa, con solo 2,6 acquirenti per annuncio. Il mercato mostra segnali di equilibrio con un aumento del 20% dell'inventario su base annua e il 25% dei venditori che riduce i prezzi - un record per il mese di aprile. Nonostante le continue difficoltà legate all'accessibilità economica, gli acquirenti hanno acquisito maggior potere di negoziazione rispetto alle recenti primavere.
Según el último análisis de Zillow, el mercado inmobiliario de la primavera de 2025 muestra variaciones regionales significativas en la competencia entre compradores. A nivel nacional, hay 5.5 compradores interesados por cada anuncio, siendo los mercados del noreste los que presentan la mayor competencia. Buffalo, Hartford, Providence y Boston tienen más de 10 compradores por anuncio, lo que genera guerras de ofertas y ventas rápidas.
La región del Sun Belt ofrece condiciones más favorables para los compradores, con 12 de los 14 mercados menos competitivos ubicados allí. Miami tiene la competencia más baja, con solo 2.6 compradores por anuncio. El mercado muestra señales de equilibrio con un aumento del 20% en el inventario interanual y el 25% de los vendedores reduciendo precios, un récord para abril. A pesar de los continuos desafíos de accesibilidad, los compradores han ganado más poder de negociación en comparación con las primaveras recientes.
Zillow의 최신 분석에 따르면 2025년 봄 주택 시장은 지역별로 구매자 경쟁에 큰 차이를 보이고 있습니다. 전국적으로 매물당 5.5명의 구매자가 참여하고 있으며, 북동부 시장에서 경쟁이 가장 치열합니다. 버팔로, 하트퍼드, 프로비던스, 보스턴은 매물당 10명 이상의 구매자가 몰려 입찰 경쟁과 빠른 매매가 이루어지고 있습니다.
선벨트 지역은 구매자에게 더 유리한 조건을 제공하며, 경쟁이 가장 낮은 14개 시장 중 12개가 이 지역에 위치해 있습니다. 마이애미는 매물당 2.6명의 구매자로 경쟁이 가장 낮습니다. 시장은 재고가 전년 대비 20% 증가하고 판매자의 25%가 가격을 인하하는 등 균형 신호를 보이고 있으며, 이는 4월 기준으로 기록적인 수치입니다. 지속되는 구매력 문제에도 불구하고, 최근 봄철에 비해 구매자들은 더 많은 협상력을 갖게 되었습니다.
Selon la dernière analyse de Zillow, le marché immobilier du printemps 2025 présente d'importantes variations régionales dans la concurrence entre acheteurs. Au niveau national, il y a 5,5 acheteurs engagés par annonce, avec une concurrence la plus forte dans les marchés du Nord-Est. Buffalo, Hartford, Providence et Boston enregistrent plus de 10 acheteurs par annonce, entraînant des guerres d'enchères et des ventes rapides.
La région du Sun Belt offre des conditions plus favorables aux acheteurs, avec 12 des 14 marchés les moins compétitifs situés dans cette zone. Miami connaît la concurrence la plus faible, avec seulement 2,6 acheteurs par annonce. Le marché montre des signes d'équilibre avec une augmentation de 20 % des stocks sur un an et 25 % des vendeurs qui baissent leurs prix - un record pour le mois d'avril. Malgré les défis persistants en matière d'accessibilité financière, les acheteurs disposent désormais d'un plus grand pouvoir de négociation comparé aux printemps récents.
Der neuesten Analyse von Zillow zufolge zeigt der Wohnungsmarkt im Frühjahr 2025 erhebliche regionale Unterschiede im Wettbewerb unter Käufern. Landesweit gibt es 5,5 interessierte Käufer pro Angebot, wobei die Märkte im Nordosten die höchste Konkurrenz aufweisen. Buffalo, Hartford, Providence und Boston verzeichnen mehr als 10 Käufer pro Angebot, was zu Bietergefechten und schnellen Verkäufen führt.
Die Sun-Belt-Region bietet für Käufer günstigere Bedingungen, da 12 der 14 am wenigsten umkämpften Märkte dort liegen. Miami hat die geringste Konkurrenz mit nur 2,6 Käufern pro Angebot. Der Markt zeigt Anzeichen von Ausgewogenheit mit einem 20%igen Anstieg des Angebots im Jahresvergleich und 25% der Verkäufer senken ihre Preise – ein Rekordwert für den April. Trotz anhaltender Erschwinglichkeitsprobleme haben Käufer im Vergleich zu den vergangenen Frühjahren mehr Verhandlungsmacht gewonnen.
- Inventory levels are up 20% compared to last year
- 25% of sellers are cutting prices, indicating increased buyer negotiating power
- Market showing signs of better balance between buyers and sellers
- Homes listed on MLS typically sell for 1.5% more than off-market listings
- Intense competition persists in Northeast markets with 10+ buyers per listing
- Housing affordability challenges continue nationwide
- More than half of homes in competitive markets sell above list price
- Typical homes sell in just 10 days in most competitive markets
Insights
Zillow's data shows power shifting to Sun Belt home buyers with more inventory and price cuts, while Northeast markets remain competitive.
The latest Zillow market analysis reveals a significant regional divide in housing market dynamics that demonstrates the company's powerful data analytics capabilities. The Northeast is experiencing extreme competition with Buffalo, Hartford, Providence, and Boston showing more than 10 shoppers per listing, resulting in bidding wars and quick sales. Meanwhile, 12 of the 14 least competitive markets are in the Sun Belt, with Miami having just 2.6 shoppers per listing.
This regional disparity highlights Zillow's ability to provide granular market insights that benefit both consumers and real estate professionals. The data shows a 20% year-over-year increase in inventory nationwide and a record 25% of sellers cutting prices in April, indicating a shift toward a more balanced market despite ongoing affordability challenges.
Particularly noteworthy is how Zillow leverages this market analysis to showcase its consumer tools like the BuyAbility℠ feature from Zillow Home Loans, which helps buyers identify homes within their budget as mortgage rates fluctuate. The company's emphasis on unrestricted listing access (with 91% of surveyed buyers desiring to see all listings without barriers) reinforces Zillow's consumer-centric approach and its value proposition in both competitive and slower markets.
This detailed market analysis demonstrates why Zillow remains a dominant player in real estate technology - by transforming raw housing data into actionable insights for consumers while simultaneously showcasing the depth of its market intelligence capabilities to investors and industry stakeholders.
More homes for sale and more price cuts make this home shopping season more promising for buyers in many markets
- There are 5.5 engaged home shoppers for every for-sale listing nationwide.
- In parts of the Northeast, buyers outnumber listings 10 to 1, fueling bidding wars and fast sales.
- Twelve of the 14 least competitive markets are in the Sun Belt, where buyers generally have more options.
There are 5.5 engaged home shoppers — people who have saved or shared a for-sale listing on Zillow — for every home on the market nationwide. The ratio is greater than 10 to 1 in four Northeast markets:
Five most competitive markets:
Buffalo Hartford Providence Boston Richmond
"This spring, we're seeing signs of a more balanced housing market. Inventory is up
Nationwide, the housing market is becoming friendlier to buyers, despite continued affordability challenges. More sellers than buyers have entered the market so far this spring, causing inventory to rise. Buyers now have more negotiating power than in recent springs, prompting about
Buyers will have the best shot at being the only bidder on their dream home in the Sun Belt. Of 14 major metro areas with fewer engaged home shoppers per listing than the national average, 12 are in the Sun Belt. The other two are
Five least competitive markets
Miami Houston New Orleans Memphis San Antonio
In markets like
As mortgage rates continue to fluctuate, quickly knowing which homes are within a buyer's budget can be a competitive advantage, especially in fast-moving markets. Zillow Home Loans' BuyAbility℠ tool gives buyers a personalized, real-time estimate of the home price and monthly payment that fit within their budget, and it now quickly and clearly shows home shoppers the listings within their BuyAbility. If mortgage rates fall, more homes for sale may appear within a buyer's search on Zillow.
Metro Area* | Engaged Home Shoppers | Share of Homes Sold | Median Days to |
5.5 | 27.0 % | 17 | |
7.4 | 45.2 % | 22 | |
7.4 | 45.5 % | 17 | |
6.9 | 38.6 % | 8 | |
5.6 | 18.3 % | 24 | |
3.4 | 14.3 % | 28 | |
7.0 | 46.3 % | 6 | |
7.7 | 42.0 % | 8 | |
2.6 | 8.2 % | 50 | |
5.7 | 21.9 % | 28 | |
10.3 | 52.9 % | 7 | |
5.1 | 15.7 % | 29 | |
8.4 | 63.5 % | 13 | |
5.1 | 35.9 % | 23 | |
7.6 | 36.7 % | 9 | |
7.7 | 43.5 % | 6 | |
7.3 | 41.9 % | 15 | |
8.0 | 39.8 % | 15 | |
4.6 | 13.8 % | 30 | |
6.2 | 31.9 % | 11 | |
6.0 | 42.4 % | 7 | |
6.8 | 38.9 % | 6 | |
4.7 | 11.6 % | 33 | |
6.1 | 24.6 % | 16 | |
4.3 | 17.1 % | 37 | |
8.3 | 37.1 % | 12 | |
8.3 | 39.9 % | 12 | |
8.2 | 26.7 % | 9 | |
7.8 | 30.6 % | 5 | |
4.9 | 14.3 % | 35 | |
4.6 | 20.9 % | 24 | |
7.8 | 37.7 % | 5 | |
6.3 | 33.3 % | 6 | |
7.3 | 21.8 % | 9 | |
7.9 | 36.4 % | 6 | |
7.9 | 75.5 % | 10 | |
5.6 | 14.0 % | 19 | |
6.6 | 34.8 % | 23 | |
10.8 | 51.3 % | 10 | |
5.1 | 12.5 % | 49 | |
6.0 | 50.0 % | 15 | |
6.0 | 22.5 % | 20 | |
8.9 | 25.3 % | 10 | |
3.9 | 15.8 % | 22 | |
9.1 | 40.9 % | 6 | |
6.8 | 29.1 % | 6 | |
3.5 | 11.5 % | 47 | |
5.0 | 32.4 % | 15 | |
11.3 | 61.8 % | 6 | |
12.7 | 56.9 % | 10 | |
4.7 | 24.8 % | 17 |
* | Table ordered by market size |
About Zillow Group
Zillow Group, Inc. (Nasdaq: Z and ZG) is reimagining real estate to make home a reality for more and more people. As the most visited real estate app and website in
Zillow Group's affiliates, subsidiaries and brands include Zillow®, Zillow Premier Agent®, Zillow Home Loans℠, Zillow Rentals®, Trulia®, Out East®, StreetEasy®, HotPads®, ShowingTime+℠, Spruce®, and Follow Up Boss®.
All marks herein are owned by MFTB Holdco, Inc., a Zillow affiliate. Zillow Home Loans, LLC is an Equal Housing Lender, NMLS #10287 (www.nmlsconsumeraccess.org). © 2025 MFTB Holdco, Inc., a Zillow affiliate.
SOURCE Zillow
FAQ
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