**House Hunting This Fall: More Markets Shift to Favor Buyers**
If you’re hoping to celebrate Thanksgiving in a new home this month, you might be in luck. A growing number of U.S. cities are shifting from seller’s to buyer’s markets, giving home shoppers more choices—and much more bargaining power.
### Key Markets Move to Favor Buyers
Earlier this summer, seven of the top 50 U.S. metros—including Miami, Austin, TX, and Orlando, FL—entered buyer’s market territory, according to new data analysis from Realtor.com®. This shift is measured by the “months of supply” metric, which tracks how many months it would take to sell all listed homes at the current sales pace.
**The rules of thumb are:**
– **Seller’s Market:** Fewer than 4 months of supply
– **Balanced Market:** 4–6 months of supply
– **Buyer’s Market:** More than 6 months of supply
By August, the list of buyer’s markets had grown to 11. Denver, Nashville, TN, Raleigh, NC, and Houston joined the roster, with their months of supply exceeding six.
### What’s Driving the Shift?
Most buyer’s markets are currently clustered in the South and West (with the exception of New York City), says Realtor.com senior economist Jake Krimmel. These regions have seen a rise in inventory and a slower sales pace throughout the year.
Denver started the summer with 4.9 months of supply—considered balanced—but climbed to 6.1 months by the end of summer, officially crossing into buyer’s market territory. Denver also leads the nation’s top 50 metros in housing inventory recovery, up 64.2% compared to six years ago.
Heather O’Leary, a Denver-area real estate agent, notes that buyers in Denver now have more properties to choose from and stronger negotiating power. Many are securing seller concessions to cover rate buydowns, saving hundreds on monthly payments—not just getting below-asking prices.
### Nashville: Prices Stabilize as Buyers Regain Leverage
Nashville’s months of supply jumped from 5.8 in June to 6.4 in August on the heels of a 20.7% spike in new listings. The market slowed substantially, with homes waiting an average of 21 days longer to find a buyer than a year ago.
“Buyers have regained leverage, which is necessary to keep a market in balance,” says Collyn Wainwright, 2025 Greater Nashville Realtors president. Nashville’s median price is $515,000, squeezing out traditional first-time buyers. Many sellers still price their homes optimistically, only to see them linger on the market.
Kevin Wilson, 2024 president of Greater Nashville Realtors, adds that high mortgage rates have sidelined buyers while more sellers—especially those who bought during the pandemic frenzy—are finally listing homes. New construction and seasonal slowdowns have also expanded local inventory.
Sellers have responded by slashing prices, offering concessions, delisting properties, and making home improvements. Wainwright emphasizes that prepping the home for sale and accurately pricing it is now more crucial than ever.
Despite these changes, Nashville remains attractive, thanks to its low unemployment rate, affordable taxes, and vibrant cultural scene. Wilson says, “With prices stabilizing and more options to choose from, buyers feel less pressure and can move at a more comfortable pace.”
### Raleigh and Houston: Inventory Builds, Buyers Benefit
Raleigh joined buyer’s market ranks with a months of supply rising to 6.1 in August, up from 5.6. Inventory surged, and a spike in delistings signaled sellers pulling back and buyers gaining leverage.
Houston similarly crossed the six-month supply threshold as summer ended. The metro saw robust growth in new listings and inventory.
“It’s a continuation of a trend for these cities,” notes Krimmel. “Affordability issues, high interest rates, and sellers clinging to optimistic prices have kept this summer’s housing market subdued.”
### Which Markets Are Most Favorable for Buyers?
From June to August, Miami was the nation’s strongest buyer’s market, with months of supply rising to 10. Homes took considerably longer to sell, and prices dropped 5.7% year-over-year to a median of $500,000.
Orlando saw the steepest month-over-month increase in supply—from 6.9 to 8.7—making it the second strongest buyer’s market. Homes there linger unsold for an average of 81 days as of October.
Austin, another inventory-rich city, grew even deeper into buyer’s market territory with 7.4 months of supply. Riverside, CA, followed closely behind at 7.3 months, and a surge in delistings paints the picture: sellers are growing frustrated as listings stay on the market.
### Las Vegas: A Market On the Verge
While Las Vegas hadn’t officially tipped into buyer’s market territory this summer, it’s heading in that direction. Supply rose sharply—from 4.3 months in June to 5.7 in August—and inventory continues to grow as buyer activity slows.
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**In Summary:** For home buyers across several major metros, there’s more choice and leverage than has been seen in years. With sellers adjusting expectations and buyers negotiating better deals, fall 2024 may be the season to make your move.
https://nypost.com/2025/11/10/real-estate/more-cities-are-turning-into-buyers-markets-as-homebuyers-gain-upper-hand/
