Buyers had the upper hand in June, with a recent report from real estate marketing platform Redfin showing that there were half a million more sellers than buyers during the month, equating to a difference of 48.5%. In total, there were an estimated 1.496 million home sellers on the market in June, which is up 0.4% from the prior month and the highest level since 2020. Meanwhile, there were an estimated 1.007 million buyers on the market, up by 0.5% from the month before.

Sellers outnumber buyers in 70% of metros

Of the 47 largest U.S. metros analyzed by Redfin, 33 are buyer’s markets. The strongest buyer’s market in June was Miami, which had an estimated 140% more sellers than buyers. Miami was followed by Nashville, which recorded 129% more sellers than buyers, and then Houston with 124% more sellers than buyers.