There is finally clear evidence that conditions have swung toward a buyer’s market nationally—at least on paper—but the story on the ground in New Jersey remains intensely local.
National shift: 37% more sellers than buyers
Recent Redfin data show there were about 37.2% more home sellers than buyers in the U.S. housing market this November, or roughly 529,770 more sellers than buyers—one of the widest gaps since records began in 2013.That imbalance has been above 35% since April and is up from 35.6% just one month earlier and about 17% a year ago, underscoring how quickly leverage has tilted away from sellers at the national level.
Redfin classifies a market with over 10% more sellers than buyers as a buyer’s market, under 10% more sellers as a seller’s market, and within plus or minus 10% as balanced; by that definition, the national housing market has been in buyer’s-market territory since May 2024.
Why this is called a buyer’s market
When sellers outnumber buyers by this margin, buyers typically gain negotiating power because they have more options to choose from and less competition for each listing.That often translates into more price reductions, seller-paid closing costs, repair credits, or rate buydown incentives—tools that have become more common as sellers try to keep deals together in a softer demand environment.
However, this is only a buyer’s market for households that can still afford to buy; high prices and elevated borrowing costs have pushed many would-be purchasers to the sidelines despite the increase in available inventory.
Buyers pull back, sellers retreat more slowly
Redfin estimates the number of active buyers and sellers using a combination of MLS data and their own activity metrics, and that picture shows both sides stepping back. In November, the number of homebuyers fell 2.5% month over month and 9.4% year over year to about 1.43 million—its second-lowest reading on record after April 2020, when the pandemic effectively froze the market.
Sellers are also retreating, but not as quickly: the number of sellers dipped 1.4% month over month to roughly 1.95 million, the biggest decline since mid‑2023, yet remained 6.2% higher than a year earlier.Many sellers are delisting after watching their properties sit for months without serious offers, while others delay listing altogether after seeing nearby homes close below asking price.
Counsellors Title Agency will continue to monitor how this national buyer’s market intersects with New Jersey’s hyper‑local trends—particularly along the Toms River–Ocean County corridor—so that both buyers and sellers can approach 2026 with clear title, clean data, and a realistic understanding of their negotiating position.