Full Breakdown
U.S. Housing Market: Eight Metro Areas Favor Buyers in 2023
4/12/2026, 4:10:39 AM
Overview of Buyer-Friendly Markets
A recent report by the economist research team at Realtor.com highlights that only eight metropolitan areas in the United States currently represent buyer's markets. This analysis, conducted using a diagnostic tool called the Market Clock, assesses housing conditions based on factors such as months of supply, time on market, price changes, and list-to-sale ratios. The report indicates that approximately 46% of the top 50 U.S. markets are balanced, while 26% are classified as seller's markets, leaving only 16% as buyer's markets.
Identifying the Buyer’s Markets
The eight identified buyer's markets are predominantly located in the South, with one exception in the West. The cities include Jacksonville, Miami, Orlando, and Tampa in Florida, along with Atlanta, Georgia; Austin, Texas; Nashville, Tennessee; and Riverside, California. Notably, none of the buyer's markets are situated in the Northeast or Midwest, where demand remains strong and supply is limited, thus favoring sellers.
Market Conditions and Trends
The Market Clock indicates that all eight buyer's markets are positioned at 5 o'clock, suggesting an ample supply of homes for sale, an increase in listings, and a trend of sellers lowering prices. Realtor.com senior economist Jake Krimmel noted significant increases in active listings in some areas, with Riverside and Nashville experiencing rises of 222% and 330%, respectively, since high interest rates began affecting the market in 2022. This surge is notably higher than the national average increase of 172% during the same period.
Implications for Prospective Buyers
As the spring season approaches, prospective buyers in these eight metros are presented with favorable conditions. Krimmel emphasized that buyers have both time and options, allowing them to negotiate prices and concessions effectively. The shift in market dynamics provides an opportunity for buyers to exert leverage in their transactions.
Criticism & Opposition
While the report highlights positive conditions for buyers in these specific markets, critics may argue that the overall national housing market remains challenging due to high interest rates and inflationary pressures. The disparity between buyer's markets and seller's markets could also lead to uneven recovery across different regions.
Verbatim Quotes
- “Riverside and Nashville , for instance, have seen active listings increase 222% and 330%, respectively, since high interest rates reset the market in 2022 – significantly greater than the national average of 172% since March 2022,” — Jake Krimmel, Senior Economist, Realtor.com
- “Krimmel said that prospective buyers in all the eight metros have both time and options on their side this spring, giving them the opportunity to exert leverage up to a point when negotiating prices and concessions with sellers.” — Jake Krimmel, Senior Economist, Realtor.com
This analysis underscores the unique opportunities available for homebuyers in select U.S. metropolitan areas, reflecting a significant shift in market conditions that could influence purchasing decisions in the coming months.
