A recent Redfin report reveals a significant shift in the housing market that could create new opportunities for homebuyers in 2025. For the first time in over a decade, there are nearly 500,000 more home sellers than buyers—the largest gap since Redfin began tracking this data in 2013.
Key Takeaways for Homebuyers:
Buyer’s Market Conditions
With 1.9 million sellers and only 1.5 million buyers, the current market favors buyers. That means more inventory to choose from and potentially better negotiating power on price and terms.
Home Prices May Dip
Redfin forecasts a 1% decline in home prices by the end of 2025, driven by increased inventory and tempered demand. While not dramatic, this may ease affordability pressures slightly for some buyers.
Regional Variations Matter
Cities like Miami are seeing nearly three sellers for every buyer, while markets like Newark, NJ remain seller-friendly. Here in Texas, trends may vary by city, but the broader shift toward a buyer’s market is worth watching.
Condo Market Sees Sharpest Impact
Condo listings show the greatest imbalance, with 83% more sellers than buyers. If you’re considering a condo purchase, this may be the time to explore options.
Longer Days on Market
About 44% of April listings sat on the market for 60 days or more, giving buyers more time to make thoughtful decisions and negotiate.
What This Means for You
If you’ve been hesitant to enter the market, now may be a good time to re-evaluate. While mortgage rates and affordability remain important considerations, the increased inventory and softening prices could work in your favor—especially with a trusted mortgage expert by your side.
Source: Link to the article
Need help navigating this shifting market?
Get Pre-approved = Link to my Loan Application
Contact Sal Trapani with MJ Mortgage LLC:
Phone: 281-608-2846
Email: sal@mjmortgagellc.com
Website: www.mjmortgagellc.com
NMLS #1055510 | MJ Mortgage LLC NMLS #2381195