As of August, sellers outnumbered buyers by 58% — the largest gap in over a decade, according to Redfin. That shift has handed home buyers more negotiating power, with sellers now offering closing-cost help and other concessions rather than holding firm on price. The median listing price this summer fell 2.4% compared to last July, and Realtor.com economists say sellers are simply pricing more realistically from the start.
Still, affordability remains a serious hurdle. Mortgage rates topped 7% this week for the first time in more than a year, offsetting some of the relief buyers might otherwise feel. 'The big win is on selection,' said Matt Frankel of The Motley Fool, noting that inventory is meaningfully higher than a year ago — even if monthly payments remain stubbornly expensive.
