Housing market's in a weird spot right now. We've got 580k more sellers than buyers — biggest gap we've seen since they started tracking this in 2013.
This is the flip side of the 2020-2021 frenzy when buyers were bidding over ask sight unseen. Now? Sellers are sitting there waiting, and buyers aren't showing up.
Usual suspects: mortgage rates still elevated compared to the 3% locks people are sitting on, prices haven't corrected enough to make sense for most people, and frankly, a lot of folks are just waiting to see what happens next.
The interesting part: this imbalance doesn't automatically mean prices crash. If sellers refuse to budge and just pull listings, you get a stalemate — low volume, sticky prices, frustrated everyone.
Real estate moves slow. This gap will eventually close, either through price adjustments, rate changes, or time wearing people down. But right now, it's a standoff.
If you're thinking about buying, this is actually useful data. More inventory, fewer competing bids. Leverage that. If you're selling, well... might want to be realistic about pricing.
This is the flip side of the 2020-2021 frenzy when buyers were bidding over ask sight unseen. Now? Sellers are sitting there waiting, and buyers aren't showing up.
Usual suspects: mortgage rates still elevated compared to the 3% locks people are sitting on, prices haven't corrected enough to make sense for most people, and frankly, a lot of folks are just waiting to see what happens next.
The interesting part: this imbalance doesn't automatically mean prices crash. If sellers refuse to budge and just pull listings, you get a stalemate — low volume, sticky prices, frustrated everyone.
Real estate moves slow. This gap will eventually close, either through price adjustments, rate changes, or time wearing people down. But right now, it's a standoff.
If you're thinking about buying, this is actually useful data. More inventory, fewer competing bids. Leverage that. If you're selling, well... might want to be realistic about pricing.