Excess Returns 500,000 More Sellers Than Buyers. First Time in a Decade | Daryl Fairweather on What Comes Next
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Jun 23, 2025 Daryl Fairweather, Chief Economist at Redfin and author of Hate the Game, dives deep into the current U.S. housing market, where sellers outnumber buyers for the first time in a decade. She discusses the psychological barriers for both parties, the economic implications of high mortgage rates, and the regional challenges across states like Florida and Texas. Daryl also highlights climate risks and zoning reforms affecting real estate dynamics. Additionally, she emphasizes why homeownership shouldn't solely be viewed as an investment strategy.
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Shift To Strong Buyers' Market
- The U.S. housing market has shifted to a strong buyers' market with 500,000 more sellers than buyers for the first time since 2013.
- Sellers face challenges adjusting prices downward as buyer demand softens amid high mortgage rates and shifting dynamics.
Regional Housing Market Differences
- Florida and Texas face buyer-favorable markets due to new construction and rising insurance and HOA costs driven by climate-related risks.
- The Midwest and Northeast remain more balanced or buyer-favorable due to lower costs and less new construction during the pandemic.
Consumer Health & Housing Market
- The economy is holding up moderately well despite challenges; consumer spending remains resilient but uncertainty dampens homebuying.
- High mortgage rates and economic uncertainty keep many potential buyers renting rather than purchasing now.
