The number of home sellers in the United States exceeded the number of buyers by 62.6 percent in September 2026, the largest gap in records dating back to 2013, according to a new report from Redfin.
The gap widened from 56.9 percent in August, marking the fourth consecutive month of record seller surpluses. Sun Belt markets, particularly Miami, Nashville and several Texas metropolitan areas, accounted for some of the largest imbalances.
Redfin defines a buyer’s market as one in which sellers outnumber buyers by more than 10 percent. A seller’s market occurs when buyers outnumber sellers by more than 10 percent, while a market with a gap within 10 percent in either direction is considered balanced.
High housing costs and economic uncertainty have contributed to the imbalance, with many prospective buyers remaining on the sidelines.
“This is a buyer’s market born out of caution, not strength,” said Asad Khan, senior economist at Redfin. “Buyers
