Best Buyer’s Markets in the U.S. in 2026: Where Buyers Have More Leverage

Buyer’s-market conditions have returned to a large part of the United States in 2026, but the amount of negotiating power buyers have depends heavily on where they are shopping.

In some major metros, sellers now substantially outnumber active buyers. Homes are taking longer to sell, competition has eased, and buyers may have more room to negotiate on price, repairs, closing costs, or other terms.

Redfin’s July 2026 analysis found that 39 of the 49 major U.S. metros it analyzed qualified as buyer’s markets, using a definition in which estimated sellers outnumber buyers by more than 10%.

The strongest buyer leverage appeared in Miami, Nashville, Houston, San Antonio, and Austin.

But a buyer’s market does not automatically mean an affordable market or even a good place for every household to buy. Miami, for example, offers buyers substantial negotiating leverage while still carrying high home prices, insurance costs, and other ownership expenses.

For broader analysis of supply, demand, and market conditions, see our Housing Markets research.

What Is a Buyer’s Market?

A buyer’s market generally describes a housing market where buyers have more negotiating leverage than sellers.

That usually happens when supply is relatively strong compared with demand.

Common signs include:

• More homes available per buyer
• Longer selling times
• More price reductions
• Fewer bidding wars
• Greater seller flexibility
• More opportunities to negotiate repairs or concessions

There is no single universal formula used by every housing data provider.

This ranking is based primarily on Redfin’s July 2026 buyer-versus-seller analysis.

Redfin defines:

Buyer’s market: More than 10% more sellers than buyers
Balanced market: Seller-buyer difference within plus or minus 10%
Seller’s market: More than 10% fewer sellers than buyers

Redfin estimates the number of buyers using proprietary data on the typical period between a buyer’s first home tour and purchase closing, combined with MLS active-listing and pending-sale data.

Its seller estimate is based on active MLS listings.

Those figures are seasonally adjusted and subject to revision.

10 Strongest Buyer’s Markets in the U.S. in 2026

The following ranking uses Redfin’s July 2026 estimates of how much sellers outnumber buyers.

Median sale prices and days on market come from Redfin’s separate July 2026 metro housing-market dataset.

Sources: Redfin Buyer vs. Seller Market Analysis and Redfin July 2026 Housing Market Report.

These markets rank highly for buyer negotiating leverage, not necessarily affordability, investment potential, or overall quality of life.

1. Miami, Florida

Miami was the strongest buyer’s market among the major metros Redfin analyzed in July 2026.

Redfin estimated 154% more sellers than buyers.

Its July median sale price was approximately $557,762, and homes that went under contract had spent a median of 93 days on the market.

That combination gives active buyers substantially more choice than they would typically have in a tight seller’s market.

However, Miami illustrates why buyers should never confuse leverage and affordability.

High housing prices remain a challenge, while insurance, HOA expenses, and climate-related ownership risks can materially increase total housing costs.

Buyers considering Florida should therefore calculate recurring ownership expenses alongside purchase price.

Our Housing Risk research examines risks that can affect those costs.

2. Nashville, Tennessee

Nashville ranked second in Redfin’s seller-surplus measure, with an estimated 150.8% more sellers than buyers.

The July 2026 median sale price was $487,083, and the typical home going under contract had spent 78 days on the market.

Nashville’s housing supply expanded significantly during and after the pandemic-era growth period, while higher housing costs have constrained demand.

Redfin also reported that active listings in Nashville were 10.6% higher than a year earlier in July.

For buyers who remain financially qualified, weaker competition may make it easier to compare properties and negotiate rather than rush into an offer.

3. Houston, Texas

Houston was the strongest buyer’s market in Texas and third nationally in Redfin’s ranking.

Estimated sellers outnumbered buyers by 129.8%. The July median sale price was approximately $343,929, and the median time on market was 72 days.

Houston also recorded a substantial decline in pending sales, down 14.3% from a year earlier.

Texas metros have maintained relatively active homebuilding pipelines, adding new-construction competition at the same time that buyer demand has softened.

That combination can give buyers leverage not only against individual resale sellers but also through competition between existing homes and newly built properties.

4. San Antonio, Texas

San Antonio had 116.3% more sellers than buyers. Its July median sale price was $320,243, the lowest in this top-10 group.

Homes going under contract spent a median 87 days on the market. Sales activity was also weak. Redfin reported closed home sales down 12.6% from the previous July.

A slower sales environment can create negotiating opportunities, but buyers should still evaluate individual neighborhoods carefully.

Metro-wide conditions do not mean every property is negotiable.

A well-priced home in a highly desired school district or neighborhood can still attract multiple buyers.

5. Austin, Texas

Austin’s shift from one of the hottest pandemic-era housing markets to a more buyer-friendly environment has been significant.

Redfin estimated 111.9% more sellers than buyers. The July median sale price was approximately $438,634, and the median time on market was 87 days.

Austin remains considerably more expensive than Houston or San Antonio, but weaker competition gives today’s buyers something they lacked during the boom years: more time.

That can allow buyers to:

• Compare multiple homes
• Inspect carefully
• Evaluate neighborhoods
• Negotiate
• Walk away from unfavorable terms

That flexibility has real value even when prices remain elevated.

6. Las Vegas, Nevada

Las Vegas had 102.6% more sellers than buyers in Redfin’s July estimate.

Its median sale price was $447,601, with a median of 65 days on market.

Las Vegas is another market that experienced rapid pandemic-era housing demand followed by significant normalization.

A seller surplus does not necessarily mean prices are collapsing. Redfin’s July data showed the median sale price still slightly above the previous year’s level.

That distinction matters.

A buyer’s market describes negotiating conditions, not necessarily declining property values.

7 (Tie). Dallas, Texas

Dallas was tied with Phoenix, with approximately 99% more sellers than buyers. The July median sale price was $416,702.

Dallas also recorded:

• Closed sales down 10% year over year
• New listings down 7.8%
• Active listings down 8.6%

At first glance, falling listings might appear inconsistent with a buyer’s market.

But buyer-versus-seller balance depends on both sides of the equation.

If buyer demand weakens faster than seller supply, buyers can still gain leverage even when total inventory is declining.

That is one reason a single housing metric should not be used to characterize an entire market.

7 (Tie). Phoenix, Arizona

Phoenix also had approximately 99% more sellers than buyers. Its July median sale price was $458,572, and median days on market stood at 65.

Pending home sales were down 13.3% from a year earlier, among the largest declines in Redfin’s major-metro dataset.

Like several Sun Belt markets, Phoenix benefited from significant housing construction during the previous expansion.

When demand cools and substantial housing supply remains available, buyers can gain negotiating leverage.

9. Orlando, Florida

Orlando had 98.7% more sellers than buyers in July. Its median sale price was $413,213, and homes going under contract had spent a median 55 days on the market.

Orlando’s seller surplus gives buyers more leverage, but Florida ownership costs deserve special attention.

Insurance, property taxes, HOA expenses, and property-specific hazard exposure can materially change the affordability calculation.

Buyers comparing states and metros should therefore look beyond listing prices through our Compare Places research.

10. Atlanta, Georgia

Atlanta completes the top 10, with 88.3% more sellers than buyers. The July median sale price was approximately $408,228, and homes spent a median of 61 days on market.

Atlanta is particularly interesting because it also ranks highly under a different methodology.

Zillow ranked Atlanta as its No. 2 best market for home buyers in 2026, behind Indianapolis.

That does not mean Zillow and Redfin produce the same ranking.

Rather, Atlanta performs well under both a direct buyer-leverage measure and a broader buyer-opportunity framework.

Why Fort Lauderdale Is Excluded

Redfin’s published table displays a Fort Lauderdale estimate, but the same report states that Fort Lauderdale was removed because of insufficient data.

For that reason, Fort Lauderdale is excluded from this ranking rather than being treated as a verified top-10 market.

Why Different Sources Report Different Numbers of Buyer’s Markets

Readers may encounter apparently contradictory headlines about how many U.S. markets favor buyers.

For example:

Redfin’s July analysis identified 39 buyer’s markets among 49 analyzed major metros.

Realtor.com’s August Market Clock update identified only 16 outright buyer’s markets among 100 metros.

Those findings are not directly comparable because the methodologies are different.

Redfin Measures the Seller-Buyer Imbalance

Redfin’s classification centers on the estimated number of active buyers compared with active sellers.

A market qualifies as a buyer’s market when sellers outnumber buyers by more than 10%.

Realtor.com Uses Multiple Market Signals

The Realtor.com Market Clock incorporates multiple dimensions, including:

• Supply relative to demand
• Market pace
• How quickly homes are selling
• Pricing pressure
• Discounts and concessions
• Direction of market movement

It then places markets into seller, balanced, or buyer phases.

Its August 2026 update found 16 of the 100 largest metros in outright buyer’s-market territory.

Three metros: Augusta, Greenville, and Jacksonville had moved from buyer’s-market status back into balanced territory.

Neither model is automatically “correct” and the other “wrong.”

They measure buyer leverage differently.

Why Zillow’s Best Markets Look Different

Zillow uses another definition entirely when identifying the “best” places for home buyers.

Its 2026 buyer-friendly market ranking considers:

• Current home-value momentum
• Expected future home-value growth
• Mortgage affordability relative to local income
• Buyer competition

Zillow’s top five were:

1. Indianapolis
2. Atlanta
3. Charlotte
4. Jacksonville
5. Oklahoma City

That list differs substantially from Redfin’s strongest buyer’s markets.

Why?

Because Zillow is trying to answer where buyers might find a favorable combination of affordability, lower competition, and future upside.

Redfin’s ranking answers a narrower question:

Where do sellers currently outnumber buyers by the widest margin?

Because this analysis focuses specifically on buyer negotiating leverage, Redfin’s framework is the more appropriate ranking methodology.

A Buyer’s Market Does Not Automatically Mean a Bargain

This is one of the most important distinctions for homebuyers.

A market can strongly favor buyers while remaining expensive. Miami is the clearest example.

It has the largest seller surplus in Redfin’s analysis, yet its median sale price exceeds $550,000.

A buyer may have considerable power to negotiate:

• A lower purchase price
• Repairs
• Seller-paid closing costs
• Mortgage-rate buydowns
• Inspection-related credits

But the buyer can still face a high monthly housing payment.

The same principle applies to markets such as Las Vegas, Phoenix, and Austin.

Our Housing Affordability research focuses on the cost side of that equation.

Buyers comparing Florida and Texas markets should also look beyond negotiating leverage to the cost of actually living in each state. Our Texas vs. Florida cost of living comparison covers housing, taxes, insurance, rent, and income.

What Can Buyers Negotiate in a Buyer’s Market?

Stronger leverage can create opportunities beyond asking for a lower sale price. Depending on the property and seller, buyers may negotiate:

Purchase Price

Homes that have spent longer on the market may have sellers who are more receptive to lower offers.

Closing Costs

A buyer can ask the seller to contribute toward eligible closing expenses.

Mortgage-Rate Buydowns

Builders and some resale sellers may offer financial concessions that reduce the buyer’s mortgage rate.

Repairs

Buyers may have more ability to request repairs after an inspection rather than waiving concerns to remain competitive.

Credits

A seller may provide a credit instead of making certain repairs before closing.

Closing Date

Buyers may have greater flexibility to negotiate timing that better fits their move or financing.

Contingencies

In highly competitive seller’s markets, buyers sometimes weaken inspection, appraisal, or financing protections.

A less competitive market can reduce the pressure to take those risks.

More Leverage Does Not Mean Every Home Is Negotiable

A buyer’s market can improve the overall negotiating environment, but metro-level statistics do not determine how much leverage a buyer has on a specific property.

Housing markets operate at several levels at once. A metro may have abundant inventory and more sellers than buyers overall, while certain neighborhoods, school districts, price ranges, or property types remain highly competitive.

That means buyers should avoid assuming that every listing in a buyer-friendly metro is automatically overpriced or that every seller will accept a substantial discount.

Even in a strong buyer’s market, a home can still attract multiple offers when it is:

• Priced accurately from the beginning
• Recently renovated or move-in ready
• Located in a highly desirable neighborhood
• Within a sought-after school district
• Rare for its property type, lot size, or location
• In excellent structural and cosmetic condition
• Newly listed and receiving strong early interest
• Offering features that are difficult to find locally

A well-priced home that checks several of these boxes may sell quickly even when the broader metro favors buyers.

The opposite can also happen.

A property that has been on the market for several months, undergone repeated price reductions, or returned to the market after a failed contract may offer substantially more negotiating opportunity than metro-wide statistics suggest.

A seller may also become more flexible when the property is vacant, carrying costs are accumulating, the owner has already purchased another home, or a particular closing timeline becomes important.

For that reason, negotiating leverage should be evaluated at two levels:

The broader market environment tells buyers whether conditions generally favor them.

The individual property determines how much leverage they may actually have in a specific transaction.

A buyer in a strong buyer’s market may still need to make a competitive offer on an exceptional property. Conversely, a motivated seller in a relatively balanced neighborhood may accept a significant concession.

What Homebuyers Should Check Before Making an Offer

Before assuming that buyer-friendly conditions justify a low offer, buyers should investigate the property itself, recent comparable sales, and the seller’s apparent position.

A strong offer strategy should be based on evidence rather than simply applying a fixed percentage below the asking price.

Days on Market

Days on market can provide an early indication of how much interest a property has attracted.

A home listed yesterday and a home that has been available for 90 days represent very different negotiating situations.

A newly listed property may still be receiving showings and could attract multiple offers, giving the seller little reason to negotiate immediately.

A property that has remained unsold for several weeks or months may indicate:

• The asking price is too high
• Buyer interest has been limited
• The property has condition issues
• The seller initially had unrealistic expectations
• Similar homes offer better value

Longer market time does not guarantee that a seller will negotiate, but it can strengthen a buyer’s position, particularly when competing properties are available.

Buyers should also check whether a listing has been temporarily withdrawn and relisted, because the days-on-market figure may not always provide a complete picture.

Price History

The listing’s price history can reveal how the seller has responded to market feedback.

One price reduction may simply represent normal repositioning, while several reductions can be more meaningful.

For example, a home originally listed at $525,000 that has been reduced to $499,000 and then $475,000 may indicate that the seller is becoming more motivated or adjusting expectations after limited buyer interest.

Price history can also help buyers identify:

• Repeated reductions
• Failed attempts to sell
• Previous listings
• Large price changes
• Recent purchases followed by quick resale attempts

However, buyers should not assume that previous reductions automatically justify another large discount. The current asking price may already reflect market value.

Comparable Sales

Negotiating leverage does not eliminate the need to understand fair market value.

Recent comparable sales, or “comps,” can show what similar homes have actually sold for rather than what sellers are currently asking.

Useful comparisons generally consider:

• Location
• Property type
• Square footage
• Number of bedrooms and bathrooms
• Lot size
• Age
• Condition
• Renovations
• Garage or parking
• School district
• Recent sale date

A home listed at $450,000 may appear negotiable because it has been on the market for two months. But if similar properties recently sold for $445,000 to $455,000, an offer of $400,000 may still be unrealistic.

Conversely, if comparable homes have recently closed near $420,000, the buyer may have strong evidence supporting a lower offer.

Competing Inventory

Buyers should examine how many similar homes are currently available nearby.

More competing listings generally provide buyers with alternatives.

If six comparable homes are available within the same neighborhood and price range, sellers may have to compete more aggressively for a limited number of buyers.

That competition can result in:

• Price reductions
• Closing-cost assistance
• Repair credits
• Mortgage-rate buydowns
• More flexible closing dates
• Greater willingness to negotiate contingencies

If the property is one of only one or two homes meeting a buyer’s requirements, however, the buyer may have less leverage despite favorable metro-wide conditions.

Seller Motivation

Seller motivation can sometimes matter as much as market statistics.

Two sellers with nearly identical homes may negotiate very differently.

A seller who is simply testing the market may have little urgency to accept a lower offer.

Another seller may need to complete the transaction quickly because of:

• Job relocation
• Divorce
• Estate settlement
• Financial pressure
• A new-home purchase
• Retirement
• An approaching move date
• Carrying two housing payments
• An already vacant property

Buyers may not know a seller’s full circumstances, and sellers are not obligated to disclose their motivation. However, listing history, agent communication, property condition, and requested closing dates can sometimes provide useful clues.

A buyer’s agent can also ask the listing agent whether there are timing or transaction terms that matter particularly to the seller.

Occasionally a seller may value a cleaner or faster transaction more than a slightly higher purchase price.

Property Condition

The physical condition of the home can materially affect negotiating leverage.

Inspection findings may reveal legitimate costs that were not obvious when the offer was made.

These might include problems involving:

• Roof condition
• HVAC systems
• Plumbing
• Electrical systems
• Foundation or structural issues
• Water intrusion
• Appliances
• Windows
• Drainage
• Safety concerns

Depending on the contract and local market, buyers may request:

• Repairs before closing
• A seller credit
• A price adjustment
• Replacement of specific systems
• Other negotiated remedies

The key is to connect the request to an identifiable property issue rather than treating the inspection as an opportunity to reopen negotiations without justification.

In a buyer’s market, sellers may be more willing to address legitimate inspection concerns because losing the buyer could mean putting the property back on the market for an extended period.

Listing-to-Sale Price Expectations

Buyers should also examine whether homes in the area are typically selling:

• Above asking price
• At asking price
• Slightly below asking price
• Substantially below asking price

A metro may broadly favor buyers, while a particular neighborhood still sees homes closing near list price.

This is another reason buyers should avoid using the phrase “buyer’s market” as justification for an arbitrary low offer.

The relevant question is:

What are comparable buyers actually paying for similar homes here?

Concessions and Seller Credits

Negotiating leverage is not limited to the purchase price.

In some situations, buyers may gain more financial value by negotiating other terms.

Possible concessions can include:

• Seller-paid closing costs
• Mortgage-rate buydowns
• Repair credits
• Home warranties
• HOA-related costs
• Flexible possession dates
• Certain appliances or fixtures
• Inspection-related concessions

For example, a seller may resist reducing the purchase price by $10,000 but agree to contribute toward closing costs or a mortgage-rate buydown.

The best structure depends on the buyer’s financing, cash position, and long-term plans.

Total Ownership Cost

Buyers should not allow stronger negotiating power to distract them from the property’s total cost of ownership.

The purchase price is only one component.

Before committing to a home, evaluate:

• Mortgage principal and interest
• Property taxes
• Homeowners insurance
• HOA fees
• Flood, wind, or other required insurance
• Utilities
• Maintenance
• Expected repairs
• Transportation costs
• Property-specific risks

A $15,000 negotiated price reduction may look attractive, but it can be overwhelmed by unusually high insurance premiums, property taxes, or recurring HOA assessments.

Likewise, a seller concession does not make an otherwise unaffordable monthly payment sustainable.

For a state-level comparison of two major recurring ownership expenses, see our Home Insurance vs Property Taxes by State in 2026.

Use Buyer Leverage to Improve the Deal, Not Just Lower the Price

The real advantage of a buyer’s market is optionality.

Buyers may have more time to compare properties, conduct inspections carefully, preserve important contingencies, and walk away from unfavorable terms.

That can be more valuable than simply making the lowest possible offer.

A disciplined buyer should therefore combine:

Metro-level buyer leverage + neighborhood conditions + comparable sales + property history + seller circumstances + property condition + total ownership cost

The strongest negotiating position comes from understanding all of these factors together.

A buyer’s market can create opportunities, but the goal should not be to “win” the negotiation simply by paying less.

The goal is to purchase the right property at a defensible price and on terms that make financial sense.

Are Buyer’s Markets Likely to Last?

Not necessarily.

Housing-market leverage can change quickly.

Mortgage rates, employment, new construction, seller behavior, and seasonal demand can all alter the balance.

Mortgage rates can affect both sides of the market. Higher rates can weaken buyer demand while the mortgage rate lock-in effect can discourage homeowners with much lower existing rates from putting their homes up for sale.

Realtor.com’s August update demonstrates how quickly local classifications can shift.

Augusta, Greenville, and Jacksonville moved from outright buyer’s markets into balanced territory after market conditions changed.

A buyer’s market should therefore be treated as a current condition, not a permanent characteristic of a city.

Conclusion

The buyer’s market has become much more common across major U.S. metros in 2026.

Using Redfin’s July buyer-versus-seller methodology, Miami offered the strongest negotiating leverage, followed by Nashville, Houston, San Antonio, and Austin.

Las Vegas, Dallas, Phoenix, Orlando, and Atlanta also ranked among the strongest markets for buyers based on seller surplus.

But leverage and affordability are not the same thing.

A buyer may have significant negotiating power in a market where housing remains expensive. Likewise, a more affordable market does not necessarily give buyers a strong bargaining position.

The most useful way to evaluate a local housing market is therefore to combine:

Buyer-seller balance + inventory + time on market + price trends + property-specific conditions + total affordability

In 2026, many buyers have more leverage than they did during the pandemic-era housing boom.

The opportunity is not simply to offer less.

It is to use that improved position to make more deliberate decisions, preserve important protections, and negotiate a transaction that makes sense financially.

Methodology and Sources

The primary ranking uses Redfin’s July 2026 buyer-versus-seller analysis.

Source: Redfin: The Number of U.S. Homebuyers Just Dropped to a Record Low

Redfin defines:

• More than 10% more sellers than buyers: Buyer’s market
• Within plus or minus 10%: Balanced market
• More than 10% fewer sellers than buyers: Seller’s market

Redfin estimates active buyers using proprietary buyer-behavior data combined with MLS active-listing and pending-sales information. Active listings are used to estimate sellers.

Median sale prices and median days on market come from:

Redfin — July 2026 Housing Market Report

Additional methodological context:

Realtor.com — Market Clock Methodology

Realtor.com — August 2026 Market Clock Update

Zillow’s separate buyer-opportunity ranking:

Zillow — Best Markets for Home Buyers in 2026

Because each source uses a different definition of buyer-friendly conditions, their rankings are not combined into one composite score.

Frequently Asked Questions

What is a buyer’s market?

A buyer’s market is generally a housing market where supply is strong relative to buyer demand, giving buyers more choice and negotiating leverage.

What is the strongest buyer’s market in 2026?

Among the major metros in Redfin’s July 2026 analysis, Miami had the largest estimated seller surplus, with 154% more sellers than buyers.

Which Texas cities are buyer’s markets?

Houston, San Antonio, Austin, Dallas, and Fort Worth all qualified as buyer’s markets in Redfin’s July 2026 major-metro analysis.

Does a buyer’s market mean home prices are falling?

No. Buyers can gain negotiating leverage even when median home prices remain stable or continue rising modestly.

Does a buyer’s market mean homes are affordable?

No. Affordability depends on home prices, mortgage rates, household income, property taxes, insurance, and other ownership costs.

Why does Realtor.com show fewer buyer’s markets than Redfin?

The companies use different methodologies. Redfin emphasizes estimated seller-versus-buyer counts, while Realtor.com’s Market Clock combines market balance, sales pace, pricing pressure, and momentum.

What can buyers negotiate in a buyer’s market?

Depending on the property, buyers may have more ability to negotiate purchase price, repairs, closing costs, credits, mortgage-rate buydowns, contingencies, and closing dates.

Can a home still get multiple offers in a buyer’s market?

Yes. Attractive, correctly priced homes in desirable locations can still generate substantial competition even when the broader metro favors buyers.