The divide between a buyer and sellers’ market

The divide between a buyer and sellers’ market

When people stay put, inventory stays low, and existing home sales across the country have been down roughly 15 percent the past three years, according to data from the National Association of Realtors.

But not all regional housing markets have reacted the same way to the situation.

The stratification has broken down geographically. Extreme buyer’s markets dot the South and Southwest and the Northeast and Midwest are home to a swath of seller’s markets. This follows the lines of housing built during the pandemic, according to Redfin chief economist Daryl Fairweather. 

“The places that built the most housing now have more homes for sale than buyers looking to buy them by a large margin,” she said. Midwest and post-industrial Northeast cities “did not build very much during the pandemic, and they didn’t really see that much value growth during the pandemic either.”

That means demand is high and supply historically low in states like New Jersey and Ohio, which have some of the most competitive markets in the country. But while brokers have wished for more inventory over the past few years, in the places where supply is finally high — Texas and Florida — there are price cuts and concessions

Boston Seaport Sellers – List for only 1%

Let’s take a deep dive into the Boston Seaport condo sales market 

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