Overview
- In February 2026, Redfin counted an estimated 629,808, or 46.3%, more sellers than buyers, the widest gap in data back to 2013.
- By Redfin’s rule of thumb that 10% more sellers than buyers signals a buyer’s market, the U.S. has fit that label since May 2024.
- Buyer traffic fell 2.4% from January to about 1.36 million in February, while the number of sellers slipped 0.4% to roughly 1.99 million.
- Mortgage rates dipped below 6% late February then rebounded to 6.22% for the week ending March 19, Freddie Mac said, which can cool budgets and listing plans.
- The supply jump reflects an easing “lock‑in” effect—owners kept homes because their old loans were cheaper—and more new builds, with big seller surpluses in Sun Belt metros like Miami, Nashville, Austin, West Palm Beach, and San Antonio, while rare seller’s markets appeared in Newark, Montgomery County PA, Nassau County NY, Milwaukee, and New Brunswick NJ.