As of April, U.S. home sellers outnumber buyers by 33.7%, the largest gap since Redfin began data collection in 2013, with about 1.9 million sellers and 1.5 million buyers. This marks a significant change from last year, where sellers exceeded buyers by only 6.5%. 31 of the 50 largest metropolitan areas are considered buyer's markets, with Miami showing the largest disparity. Despite this shift, home prices continue to rise, with a slight forecasted drop expected by 2025.
At no other point in records dating back to 2013 have sellers outnumbered buyers by this large of a number or percentage.
Redfin predicts that home prices will only drop 1% year-over-year by the end of 2025 because it's actually very hard for home prices to fall.
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