U.S. Homebuyers Hit Record Low as Buyer's Markets Expand

The number of active U.S. homebuyers dropped to a record low of approximately 966,752 in July 2026, according to a report by Redfin. This decline in demand has created a significant imbalance in the housing market, with sellers now outnumbering buyers by 51.3% nationwide.

Rising mortgage rates, which reached 6.67% by August 13, and general economic uncertainty have pushed many prospective buyers to the sidelines. This shift has transformed 39 of 49 major metropolitan areas into buyer's markets, where those remaining in the market possess greater negotiating power. Miami represents the strongest buyer's market, with 154% more sellers than buyers, followed by Nashville and several cities in Texas.

Despite the surplus of sellers, six metropolitan areas remain seller's markets. Nassau County, New York, leads this group, where constrained construction and proximity to job centers maintain high demand. While the current environment provides leverage for affluent buyers, high housing costs continue to limit overall market participation.