In recent months, the balance of power has shifted decisively toward buyers. According to Redfin, there are about 1.9 million home sellers versus 1.5 million buyers—a staggering 34% surplus of sellers—marking the largest imbalance since at least 2013 (Redfin). Inventory levels have surged, especially for condos (83% more sellers than buyers) and single-family homes (28% more). As a result, competitive bidding wars are rare, and buyers can now “cherry pick” between multiple properties—flipping the script from two or three years ago, when multiple buyers chased each new listing.
Realtor.com reports active inventory is up nearly 29% year-over-year, with homes sitting on the market for an average of 53 days—approaching pre-pandemic norms (Realtor.com). About 1 in 5 homes has a price reduction, and delistings are up 47% year-over-year as some sellers opt to wait it out. This climate is clearly more buyer-friendly than at any point in recent years, and sellers are adjusting their expectations accordingly.
Despite rising inventory, home prices have held relatively steady. The national median list price is currently around $440,950, showing only slight year-over-year growth. Certain markets in the South and West are seeing price softness, while the Midwest and Northeast remain stable. This is keeping many sellers from panicking, but also making it harder to motivate cautious buyers facing high borrowing costs.
Speaking of costs—mortgage rates are still high. As of July 10, 2025, the national average for a 30-year fixed mortgage is about 6.72%, according to Freddie Mac and the Federal Reserve Bank of St. Louis (Mortgage News Daily). While this is down slightly from recent peaks, it's still well above the 3–4% rates buyers enjoyed just a few years ago. This continues to sideline many would-be buyers, especially first-timers, and is fueling the growing rental market.
The real estate market is clearly in tidewater—it could tip in either direction. And no one—not your lender, your grandma, or the news anchor—can say with certainty where it’s headed. Sellers, depending on your situation, may want to consider options like renting, significant price drops to sell immediately, or cutting back on expenses to make the note and hold off until the market gets better. As for buyers, remember: marry the house, date the rate. If you find the right home at the right price, secure it now—and refinance later.
In a market like this, you really need an agent in your corner who knows how to handle any and all situations, across any kind of market. I’m Hunter Townsend—an experienced real estate agent, builder, and investor. I’ve had zero terminated listings, and I’ve helped buyers and sellers all over the East Texas region. My services are tailored to your specific needs and goals, and I’m here to help you move forward with confidence—whether you’re buying, selling, or just trying to figure out what makes the most sense right now. Contact me today for a free consultation!
