Home Sellers Now Outnumber Buyers by the Most in 12 Years

What the 2025 Housing Market Means for Home Buyers, Home Sellers, and Homeowners

The U.S. housing market just hit a notable milestone: for the first time in over a decade,  home sellers now outnumber buyers —and by the widest margin since 2012. According to Redfin, this marks a real turning point after years of tight inventory and intense buyer competition.

So what’s driving the shift, and what does it mean for  home buyers  ,  first time home buyers , and current homeowners looking to make a move?  Let’s break it down.

A Look at the Latest Housing Market Trends

As of April 2025:

• Roughly  1.5 million active buyers  are in the market.
• That’s a surplus of nearly 500,000 more sellers than buyers—the biggest gap in 12 years.
• There are about  1.9 million homes for sale  nationwide.

During the pandemic, buyers often far outnumbered available homes, creating bidding wars and price spikes. Now, conditions are shifting in favor of buyers.

What’s Behind the Change?

1. Mortgage Rates Remain Elevated With 30-year fixed rates hovering around 6.7%, borrowing is more expensive than it was just a few years ago. For some, that’s meant holding off on buying—but for others, it’s opened up room to negotiate.

2. Home Prices Are Still High Despite slower buyer activity, prices haven’t dropped significantly. The median sale price in April was $431,931—up 1.6% year over year. For sellers, this can be encouraging. For buyers, it underscores the need for clear budgeting and loan guidance.

3. Economic Uncertainty Layoffs in some sectors, inflation concerns, and cautious consumer sentiment are all keeping a portion of buyers on the sidelines. But for those who are prepared, today’s market offers more options and less pressure.

Regional Breakdown: Where the Balance Has Shifted

Some areas are seeing a bigger swing toward seller surplus:

Markets with More Sellers Than Buyers:

• Austin, TX – 124% more sellers
• Phoenix, AZ – 101% more sellers
• Tampa, FL – 100% more sellers
• Miami, FL – 216% more sellers

These markets saw sharp gains during the pandemic and are now adjusting.

Markets Where Buyers Still Compete:

• Nassau County, NY – 42% more buyers
• San Jose, CA – 35% more buyers
• Newark, NJ – 47% more buyers

 Inventory is still tight in some high-demand regions, especially where job markets are strong.

 What’s Behind the Change?

 If you’re in the market—especially as a  first time home buyer —this shift could work in your favor:

• More homes to choose from
• Greater room to negotiate
• Less pressure to rush into a decision

That said, affordability is still a challenge. Between rates and prices, it’s more important than ever to understand what you can afford. Getting pre-approved for a mortgage loan can help you shop with clarity and confidence.

For Current Homeowners: A Window to Tap Into Equity

 If you already own a home, this market could present an opportunity to access your equity through a refinance, HELOC, or home equity loan —whether you want to consolidate debt, fund renovations, or cover large expenses.  With values still near record highs in many areas, now might be a smart time to explore those options.

Looking Ahead: What’s Next?

Redfin expects home prices to dip slightly—around 1% nationally—by the end of 2025. Not a crash, but a signal that the market is rebalancing. Three things to watch:

1. Job growth  – Strong employment supports housing demand.
2. Consumer confidence  – Optimism often drives action.
3. Interest rates  – Any drop could boost buyer activity.

Is Now a Good Time to Buy a House?

 With more inventory on the market and sellers more willing to negotiate, many buyers are wondering: is now a good time to buy a house ? The answer depends on your personal finances, goals, and the area you’re buying in—but overall, today’s market presents real opportunities. You’re less likely to face bidding wars, and more likely to secure concessions like closing cost credits or repairs.

While interest rates are higher than they were a few years ago, locking in a fair deal now—with the possibility of refinancing later—can still be a smart move, especially if you find a home that meets your needs long term.

Final Thoughts

 This year’s market is very different from what we’ve seen in recent years—and that’s not a bad thing. Whether you're looking to buy, sell, or make the most of your current home value, now’s a good time to reassess your options.

If you're unsure where to start, working with a trusted mortgage advisor can help you navigate your next steps—whether that’s getting pre-approved,  exploring refinance options, or simply understanding your home equity.  Bonelli Financial Group is here to support you with honest advice and tailored solutions as the market continues to evolve.