Homebuyers ended the year on a strong note in many U.S. Sun Belt cities as a growing number of markets shifted into a buyer’s market. This change is driven by rising housing inventory, longer time on market, and increased price flexibility from sellers.
Experts analyzed data from the 50 largest U.S. cities using the “months of supply” index, which measures how long it would take to sell all available homes at the current sales pace.
A market is considered seller-friendly when supply is below four months, balanced between four and six months, and buyer-friendly when it exceeds six months. According to the data, the list of buyer’s markets expanded to include 18 cities, with the top 10 markets concentrated in the South and West. Riverside, California, ranked seventh in the classification.
Miami topped the list as the strongest buyer’s market, with supply reaching 11.5 months — nearly a full year to sell the available homes. The median listing price in November stood at $500,000, down 4.8% year-over-year, before stabilizing in January.
Despite this decline, prices remain about $100,000 higher than the national average. The city also has one of the largest concentrations of luxury homes priced above $1 million, underscoring that a buyer’s market signals stronger negotiating power rather than necessarily lower prices.
Some real estate experts noted that slower sales and longer listing periods have given buyers greater leverage. Real estate broker Cara Ameer explained that well-prepared and appropriately priced homes continue to sell quickly, while overpriced properties tend to linger on the market, putting pressure on sellers to adjust expectations.
She added that the luxury segment is less affected by interest rates because many buyers pay in cash. Ameer advised buyers to secure financing in advance, conduct thorough research, and negotiate concessions such as seller contributions to closing costs or price reductions.
