Sellers are flooding the home market while buyers sit on their hands in these US cities — creating a historic imbalance

New York Post ^ | June 16, 2025 | Mary K. Jacob

[Angelino97]

After years of sellers calling the shots, some of the hottest pandemic-era housing markets are now grappling with a surplus of listings — and not enough willing buyers.

According to real estate brokerage Redfin, April saw nearly half a million more homes listed than buyers in the market, the largest gap since at least 2013.

But this supply surge hasn’t translated into a wave of closings. Instead, home sales have stalled in many areas, particularly across the Southeast and Southwest, where inventory has ballooned past pre-pandemic norms.

In Miami, for example, there were almost three times as many sellers as buyers in April, Redfin data show.

Jeff Lichtenstein, president of Echo Fine Properties in Palm Beach Gardens, Florida, told the Wall Street Journal sellers are increasingly slashing asking prices to entice cautious buyers.

“There will be more price reductions that are going on, and more willingness to sell at a lower number, especially in the next couple months. We’ve definitely seen people who have taken losses.”

These conditions mark a sharp reversal for the Sunbelt, which saw home values soar and bidding wars erupt during the COVID years.

Now, many of those same metros — Atlanta, Austin, Phoenix and Tampa among them — are seeing listings linger, as affordability challenges, higher mortgage rates and buyer wariness take hold...

“There’s not even usually a home for sale in our neighborhood, and I think there’s three or four right now,” Dirk Lovelace, who listed his Tryon, NC, house in April, told the Journal...

In markets like Denver, longtime agent Elle Pappas told The Journal the tone of conversations with buyers has shifted dramatically from the frenetic pace of recent years.

“The immediate conversation is, ‘How much of a discount do you think I can get? How many concessions can I get?’”...

[SaxxonWoods]

This situation has been around for a few months. New homes are selling because builders can buy down the mortgage rates (You can get a lower rate on 100 mortgages than on one). Resale homes are much harder because buyers are waiting for rates to come down. This is the part of the cycle where an ARM loan can work out well for a buyer, even if you refinance to a fixed later.

[P.O.E.]

They’re building huge condo developments all over NJ. And huge warehouse complexes in eastern PA, along with a few AI server clusters.

My guess - government provided goods to section 8 / EBT setups.

If you have the right social credit score.

They’re just biding their time for now.

[teeman8r]

of course buyers are gonna wait. the fed rates are too high and the dems effed up everything… wait until it’s back to sanity.

[Fledermaus]

Home and apartment building around me is strong. So many moving to middle TN.

[Flaming Conservative]

It couldn’t be that nobody wants to live in those blue areas, could it?

[BigFreakinToad]

I believe it, I’m stuck with an estate home I can’t get rid of

[Brian Griffin]

“Austin” is insanely expensive.

[HereInTheHeartland]

Rates aren’t that high by historic standards .
People’s heads were turned by abnormally low rates in the recent past

[ridesthemiles]

NOT TRUE IN N NEVADA>

I GET CONSTANT CALLS TO SELL MY HOUSE.

LAST ONE: I SAID: “ALL CASH/ $8 MILLION/ & 180 DAY ESCROW TO FIND ANOTHER PROPERTY.”

HE HUNG UP !!!!!

[Gay State Conservative]

They say that residential real estate in South Florida is in huge trouble mainly because of condo owners getting huge special assessments because of a law that the state legislature passed a couple of years ago regarding safety inspections. Also they say that homeowners’ insurance premiums are exploding.

[Harmless Teddy Bear]

Try, lowering your price?

[MeanWestTexan]

“Atlanta, Austin, Phoenix and Tampa”

Corrupt Democrat, Communist, Democrat, and gay Democrat city officials.

Gee, why are people fleeing leftist utopias?

[Waverunner]

That’s it Lutopia, city of the future. A new amazon prime/apple/Netflix series coming to you.

[Dr. Sivana]

This is the part of the cycle where an ARM loan can work out well for a buyer, even if you refinance to a fixed later.

I lived through the '70s. It may well get worse before it gets better. It may never get better. The rates of 2019-2022 were once in a lifetime low.

[Pocketdoor]

I wish rates would come down. I need to refi two rentals to payoff a HELOC that my ex’s name is on. But my current HELOC is with USAA which is 7.25%. I might need to bite the bullet and do HELOC’s as a temp option at like 9%. I could never get a loan when it was 3% being self employed with a high debt it income ratio. Now the No Doc loans are back, but the rates are high. I’ve thought about an ARM.

[MeneMeneTekelUpharsin]

Reference

[Mlheureux]

Not sure of their sources, but homes are sold within weeks of being built in my community here in Florida.

[TLI]

“Home prices have surged more than 50% nationwide over the past five years, and mortgage rates remain elevated above 6.5%.”

.

Five years.

What an interesting number.

What happened five years ago that caused this Three Ring Disaster?

Get the interest rate to a level that actually exists in reality and the prices from, oh, SIX years ago and someone beside drooling idiots might start buying.

Also, throw out the 50-60 MILLION illegal aliens.

That will make a good start to re-normalising housing in the USA.

[con-surf-ative]

Agreed. What has been insane is the market fueled by submarket interest rate funny money. Rates need to stay right where they are.

The values are completely out of whack and the entire market needs to drop by an order of magnitude. Only problem is a bunch of people are stuck in mortgages based on inflated prices. It’s going to be a painful period until all re-adjusts.