It’s been a while since home buyers had the upper hand. In recent years, sellers have held all the power, while home buyers competed against each other to get an offer accepted. Too few homes for sale meant bidding wars, rising home prices, fast sales, and frustrated home shoppers. But this year things started to change. The inventory of homes for sale has been improving, and it’s led to an increasing number of metro areas where buyers are having better luck. In fact, according to one new analysis, home buyers now have the upper hand in 13 major metropolitan areas, with an increasing number of buyer’s markets expected in the new year. Currently, most of the buyer’s markets are located in the Southeast – where new home construction has helped the supply of available homes – but gains are expected to spread to the Southwest in 2025, as inventory continues to improve and more housing markets find balance. (source)
