In 2024, one of the most noteworthy shifts in the housing market has quietly taken shape: for the first time in over a decade, sellers have overtaken buyers on the national level.

Redfin’s latest report shows that approximately 1.9 million homeowners listed their homes, while just 1.5 million buyers were actively shopping. That’s a 34% gap and a clear sign that the ultra-competitive, seller-driven market is beginning to recalibrate.

While we’re not in full buyer’s market territory just yet, the data points to a market that’s becoming more balanced—maybe even a little more buyer-friendly.

What’s Behind the Change?

Redfin projects a slight 1% drop in home prices by the end of the year. With mortgage rates still elevated and more homeowners deciding to list, inventory is rising, and sellers are facing more competition.

That competition is already having an impact: more listings are sitting longer, and price cuts are becoming more common. Buyers are gaining confidence—and options.

A Houston Perspective

Here in Houston, we’re always attuned to market shifts, even when the local dynamics don’t fully mirror the national trend. Our market remains resilient, but increased listings and subtle shifts in buyer behavior are worth noting.

If You’re Selling:

• Pricing is key. With more homes hitting the market, buyers are comparing their options closely.
  
• Presentation matters. Homes that show well still sell well.
  
• Be ready to negotiate. Flexibility could help you stand out.
  

If You’re Buying:

• More listings mean more choice. It’s a great time to explore without the pressure of last year’s bidding wars.
  
• Keep expectations realistic. This isn’t a bargain bin moment, but there’s room for negotiation.
  
• Think long-term. A smart purchase in a stable market can be a powerful investment.
  

The national shift toward a more balanced market brings fresh opportunities—especially here in Houston. Whether you’re planning to sell, buy, or simply exploring your options, it’s a great time to reassess your strategy with today’s numbers in mind.

Curious about how these trends could affect your plans? Reach out to get started—I’m here to help you navigate the Houston market with confidence!

Until next time,
Dee Dee Guggenheim Howes