34% seller surplus signals new buyer advantage

The U.S. housing market is showing signs of a shift toward buyers, with the number of sellers now outpacing buyers by a record 34%. This imbalance is creating more opportunities for homebuyers, especially in the condo sector and in cities like Miami, where rising inventory and longer listing times are shifting negotiating power.

Is the housing market finally improving for buyers?

For much of the past several years, the U.S. housing market has been firmly tilted in favor of sellers. Tight inventory, surging prices, and high competition left many buyers frustrated, often forced into bidding wars that drove costs well above asking prices. However, new data indicates a significant change is underway: the number of active sellers now exceeds the number of buyers by an unprecedented 34%. This marks the strongest buyer’s market in years and could reshape the real estate landscape for the remainder of 2025.

A record gap between sellers and buyers

Historically, the real estate market tends to swing between “seller’s” and “buyer’s” phases, influenced by supply, demand, and economic factors such as interest rates. According to recent reports from industry analysts, this year has seen an extraordinary surge in listings, particularly in the condominium sector. Miami stands out as a prime example, where inventory growth has outpaced buyer activity to such a degree that many sellers are reevaluating their pricing strategies or even delisting properties altogether. This oversupply gives buyers more room to negotiate — something virtually unheard of in the recent, hyper-competitive market.

Why condos are leading the shift

One of the most striking elements of this transition is the dominance of condos in the current surge of listings. Several factors are driving this trend. Rising maintenance costs, increased insurance premiums in coastal cities, and shifts in buyer preferences toward single-family homes with more outdoor space have made condos less attractive to some. For sellers, this has meant longer time on market and a need to stand out through pricing incentives or upgrades. For buyers, especially first-time purchasers or investors, the condo market now offers more choice and less competition, allowing for due diligence without the pressure of immediate offers.

Miami as a case study in buyer leverage

Miami, long considered one of the hottest and most competitive housing markets in the U.S., has become a textbook example of how quickly conditions can change. In recent months, over half of the listed properties in Miami have been removed from the market without selling — a signal that sellers are unwilling to compromise on price, but also that buyers are standing firm. The city’s luxury condo segment, in particular, has seen a surge in availability, creating opportunities for buyers who have been priced out in the past. With a glut of listings and rising mortgage costs, sellers are finding it harder to hold their ground.

The role of interest rates and the broader economy

While the gap between sellers and buyers is widening, another important factor is shaping the landscape: mortgage interest rates. After peaking in 2023, rates have eased somewhat in 2025, reaching their lowest point in nearly a year. This reduction has improved affordability for many prospective buyers, especially those with strong credit profiles. Combined with the growing inventory, this creates a rare window where buyers can both secure a more favorable loan and have multiple options to choose from. However, economic uncertainty — including fluctuating inflation and the potential for further rate adjustments — means that this window may not remain open indefinitely.

How buyers and sellers should respond

For buyers, the current environment offers advantages not seen in years: more listings, less competition, and greater room for negotiation on price, contingencies, and closing costs. This is an ideal time to re-enter the market for those who stepped back during the height of competition. Sellers, on the other hand, must be strategic. Pricing realistically from the outset, improving property presentation, and offering incentives such as rate buy-downs or covering part of the closing costs can make a significant difference in attracting offers.

Conclusion

The shift toward a buyer’s market in parts of the U.S. — especially in the condo sector and cities like Miami — marks a notable departure from the overheated conditions of recent years. A record 34% gap between sellers and buyers is giving purchasers new leverage, while motivating sellers to adapt to a more competitive environment. For buyers who have been waiting for the right time to act, this could be a golden opportunity. Yet, as market dynamics can change rapidly, both sides should approach transactions with a clear strategy, grounded in current local data and realistic expectations.

Daryl W. Rovai

Premier Properties

251 Park Road, Suite 400 Burlingame, CA 94010

Email: drovai2424@aol.com

Phone: (650) 347-4888

Daryl Rovai has earned a reputation of unrivaled leadership in the real estate industry. His success is rooted in his personal commitment to his clientele. Daryl’s knowledge of real estate, marketing techniques, and negotiating skills gives his clients a competitive advantage.
Daryl’s goal is to establish a long-term relationship with his clients and by continually striving to earn clients trust and confidence.
Daryl is a member of the California Association of Realtors, National Association of Realtors, San Mateo County Association of Realtors, and has been licensed by the State of California as a Notary Public. Among the many accolades he has received, Daryl has been honored by his peers in the real estate industry and named ‘Realtor of the Year’ for outstanding work and contribution to the real estate industry.
Daryl has represented a wide variety of clientele, residential buyers, and sellers, as well as, real estate developers, banking institutions, and insurance companies, with whom he represents them on the sale of their foreclosure properties. Daryl also works closely with major global relocation companies helping families relocate across town and across the country.
Furthermore, Daryl has in depth knowledge with the mortgage lending industry. Because of his association with mortgage markets, he can confidently assure his clients’ qualification for any contractual transactions. Contact Daryl today with all your real estate questions and needs.