Only 5 US housing markets still favor sellers — everywhere else, a record glut has buyers calling the shots

In other words, if you have the money to buy a home, this is a great time to do so. But for a staggering number of people, that goal is entirely out of reach.

Buyers are highly advantaged in the housing market

Redfin calculates the number of buyers in the market by analyzing how long it takes buyers to purchase a home after they start looking. Comparing that data against how many homes are listed in a given market, it’s possible to figure out which parts of the country are best for buyers versus sellers.

In September 2026, Redfin data shows that Miami, Nashville, Houston, Austin and San Antonio are the best for buyers.

Additionally, most markets that Redfin classifies as buyer’s markets have opened up for buyers who were looking in August. St. Louis and Detroit were the only outliers — they’re still very good for buyers, but that advantage has begun to ebb.

The only sellers’ markets include Nassau County, New York; Montgomery County, Pennsylvania; Newark, New Jersey; Milwaukee and San Francisco.

Mortgage rates have made buying inaccessible for many

Unfortunately, it doesn’t matter how good the market is for buyers right now if you don’t have the money to actually pay for one. Right now, that problem is impossible to ignore.

Mortgage rates have been rising for most of 2026, and rates have hit an average of 7.4% as of October 15.

Home prices rose significantly between 2020 and 2021, and prices have remained somewhat stable since then. Meanwhile, income levels have increased in the same timeframe, but that growth still hasn’t matched the rise in prices.