Homebuyers in 70 percent of America’s top housing markets could have the upper hand this summer, according to a July 14 report from Redfin.
The national real estate brokerage found that 33 out of the 47 metro regions it analyzed were buyer’s markets in June, with nearly half a million, or 48.5 percent, more home sellers than buyers. Sellers outnumbered buyers nearly two to one in places such as Miami, Nashville, and large portions of Texas.
“The biggest hurdle for Americans looking to buy a home is affordability, but those with the budget to move now—even in the face of record-high home prices and stubbornly high mortgage rates—have the power,” Redfin senior economist Asad Khan said in the report….