Real estate experts agree on one important trend: Here’s how the new housing supply surge could be a turning point
The housing market in the United States is stabilizing after years of tumult. Here’s a look at the current state.
The U.S. housing market experienced a major surge in prices in the wake of the covid-19 pandemic as people took advantage of ultra-low mortgage rates and generous work-from-home policies to change their residence. Even if Americans didn’t move, they still took advantage of the sub-three-percent interest rates to refinance.
This caused a major problem when mortgage rates began to climb. Homebuyers found that the supply of homes had dried up as homeowners were loathe to sell their home and lose their super cheap home loan. Furthermore, what was available was now out of their price range, not to mention mortgages unaffordable.
Housing market trends going into summer 2026
However, the U.S. housing market is now stabilizing and more houses are being listed. In fact, at the end of last year, the number of sellers outnumbered buyers by the largest gap on record. Unfortunately, that wasn’t necessarily translating into significantly lower prices at the time.
That’s not the case now thoug. the most recent data from Redfin shows that the median listing price is now down 2.4% year-over-year after 19 straight weeks of reductions.
The real estate company notes that it appears that sellers are adjusting their expectations, “listing at more modest prices from the start, rather than listing high and cutting later,” they explained. “For buyers, that’s encouraging news: More homes may be coming to market at realistic prices.”
Most U.S. markets are still favoring sellers
Zillow recently noted that a majority of the top 100 largest metros they analyze favor sellers. These are mainly in the West, Midwest, Northeast and Richmond, Virginia. On the other hand, there are only nine markets in the south that favor buyers, most of those are in Florida.
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