Top U.S. Housing Markets Where Buyers Hold the Power
High inventory levels and cooling demand give homebuyers more negotiating power in major U.S. cities
A recent housing market analysis revealed that seven major U.S. cities have shifted into “buyers’ markets,” where property supply now outweighs demand. This trend has created favorable conditions for buyers, who are gaining stronger negotiating leverage as inventories continue to rise.
Among these markets, Miami, Orlando, and Austin stand out as the top three cities offering buyers the greatest advantages.
In Miami, housing supply in June was enough to last 9.7 months, meaning that at the current pace of sales, it would take nearly a year to clear all listings. Inventory rose by 35% compared to the same period in 2024, while the median listing price dropped 4.7% year-over-year to $510,000.
Housing Market Shifts Give Buyers the Advantage
Austin also emerged as a prime buyers’ market, with housing inventory covering 7.7 months in June. While demand cooled after the pandemic, the number of homes available for sale has surged. Nearly one-third of listings saw price reductions, and the median home price slipped below $500,000 — a 4.8% drop from last year.
In Orlando, supply covered 6.9 months during June, with inventory climbing 34% annually. The median home price fell 3.4%, reaching $429,473. Orlando officially shifted to a buyers’ market earlier this year when supply exceeded the six-month threshold.
Seven U.S. Cities Shift to Buyers’ Markets
Experts highlight that all seven leading buyers’ markets share common traits: rising supply, slower sales activity, and more competition among sellers for fewer buyers. Southern and western states, particularly Florida, have shown the sharpest signs of weakening housing demand, with four of the state’s major metro areas falling into buyers’ market territory.
Beyond the top three, New York City, Jersey City, Jacksonville, Tampa, and Riverside, California also made the list of the top seven buyers’ markets in the country.
