As the peak spring homebuying season approaches, more than 60% of major metropolitan areas in the United States are currently classified as balanced markets or favouring buyers, according to a recent report by Realtor.com.
Prominently, Texas and Florida lead as the states where buyers hold the advantage. Cities such as Austin, Jacksonville, Orlando, Miami, and Tampa are identified as having a buyer’s market. In addition, significant markets like Atlanta, Nashville, and Riverside in California also exhibit conditions that favour buyers.
Conversely, around 25% of urban centres, particularly in the Northeast and Midwest, support sellers. Cities like Chicago, Indianapolis, Hartford (Connecticut), and Virginia Beach provide some of the strongest seller advantages. In the West, San Francisco and San Jose remain tilted towards sellers, primarily due to the ongoing demand for housing spurred by the tech industry’s growth in Northern California.
Most other urban areas are characterised by a semi-balanced market. According to Realtor.com’s “Market Clock” tool, which designates 12 o’clock as a robust seller’s market and 6 o’clock as a strong buyer’s market, the overall position for the U.S. currently sits at 3 o’clock—indicating a balanced yet cooling environment.
In summary, while a majority of U.S. metro areas are leaning towards being buyer-friendly, certain regions and cities still provide advantages for sellers, particularly in the Midwest and Northeastern regions. The overall market appears to be stabilising, albeit with signs of cooling as we move further into the spring season.
