After years of rising prices and limited inventory, the housing market is undergoing a major shift: Sellers now far outnumber buyers.
As of April, the U.S. housing market had nearly 500,000 more sellers than buyers — the largest seller surplus on record, according to a new Redfin estimate.
Aside from the start of the pandemic in April 2020, homebuyers haven’t been this scarce since at least 2013, the earliest year for which Redfin has data.
