Redfin reports that U.S. home sellers outpaced buyers by a record 57.9% in August. This represents the widest supply-demand gap since the brokerage began tracking data in 2013. New listings surged 3.9% during the month while active buyer demand remained nearly flat.
Sun Belt markets like Nashville and Miami recorded more than double the number of sellers compared to buyers. Homeowners are increasingly listing properties despite elevated mortgage rates, signaling a weakening lock-in effect. Average 30-year mortgage rates hovering near 6.9% continue to suppress buyer demand.