Sellers outnumber buyers by largest margin in over a decade
The US housing market had 46.3% more sellers than buyers in February, the largest gap since 2013. This shift towards a buyers market is driven by increased mortgage rates and more inventory on the market, but it's unclear if prospective buyers will be able to afford homes this spring.
The US housing market saw a significant gap between sellers and buyers in February. There were 1.99 million sellers and 1.36 million buyers, a 46.3% difference. The South has strong buyers markets, while the Northeast has strong sellers markets. The number of sellers and buyers decreased from January, with a 0.4% and 2.4% drop respectively. This shift towards a buyers market is driven by increased mortgage rates and more inventory on the market. The 30-year fixed-rate mortgage has increased significantly in recent days, affecting affordability.
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