5 min read
Many potential home buyers, sellers, and investors are looking at the 2026 housing market and wondering, is it a buyer’s or seller’s market? One side has more control than the other, and in this article, we’ll share the differences between the two, what to do if you’re buying or selling, and unique advantages for real estate investors!
Summary:
- As of Spring 2026, buyer’s markets are found throughout the Southeast and Pacific Northwest, while seller’s markets exist in the Northeast, Midwest, and certain West Coast cities.
- Buyers should look for great deals in strong long-term markets where home prices are likely to increase in the years ahead.
- Sellers should adjust their asking price to market conditions, be open to negotiations, or reconsider selling altogether.
Spring 2026: Strong Buyer’s Market
The U.S. is largely a buyer’s market as of Spring 2026. Closing out 2025, there were a record 47.1% more sellers than buyers, and as of February 2026, the average days on market has climbed to 66, signaling that many are struggling to sell their homes. What’s more, newly listed homes are down year over year, suggesting that would-be sellers are waiting for a more opportune time to sell.
Meanwhile, the average sale-to-list price in the U.S. is around 98% (as of February 2026), meaning buyers are getting a 2% discount from list price. However, this doesn’t mean the entire U.S. is a buyer’s market. Throughout much of the Northeast and Midwest, there are still markets where buyers outnumber sellers.
What Is a Buyer’s Market?
A buyer’s market is a situation where the buyer typically has more control and negotiating power than the seller. Key signs include lower buyer demand, high days on market (homes taking longer to sell), lower sale-to-list price (under 100%), more seller concessions, rising inventory (often outpacing demand), and months of supply increasing above average supply.
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What is a Seller’s Market?
A seller’s market is when the seller typically has more control than the buyer. Key signs include higher buyer demand, low days on market (homes selling faster), higher sale-to-list price (over 100%), fewer seller concessions, limited inventory (even with more homes being listed), and months of supply dipping below average supply.
The Biggest Recent Buyer’s and Seller’s Markets
The U.S. housing market ebbs and flows, and much of the time, we have a more “balanced” housing market, where neither the buyer nor the seller has a significant advantage. However, two periods stand out in the last 20 years when the housing market tipped heavily in one direction:
2008 Housing Crash: Buyer’s Market
When the U.S. housing market collapsed, it flipped the balance of power toward the buyer, as distressed homes flooded the market and values plummeted, triggering a recession. At the same time, widespread unemployment and stricter lending standards reduced competition for homes and created a perfect storm for well-positioned buyers, allowing them to purchase properties at large discounts.
2020-2022: Seller’s Market
The 2020-2022 housing market heavily favored sellers, largely due to the aftereffects of the COVID-19 pandemic. Supply chain issues slowed new construction, while economic stimulus and ultra-low interest rates increased buyer competition. We saw bidding wars in many markets, with homes selling much faster and often above asking price.
Where Are the Buyer’s Markets Right Now?
Many of the buyer’s markets today are scattered across the Southeast and Pacific Northwest. As of January 2026, the “coolest” markets include:
- Houma-Thibodaux, LA
- Pueblo, CO
- Lake Charles, LA
- Killeen-Temple, TX
- Bend-Redmond, OR
- Panama City, FL
- Bellingham, WA
- Corpus Christi, TX
- El Paso, TX
- Athens-Clarke County, GA
Where Are the Seller’s Markets Right Now?
While the U.S. is largely a buyer’s market as of Spring 2026, there are still seller’s markets throughout the Northeast, Midwest, and certain West Coast cities. As of January 2026, the “hottest” markets include:
- Kenosha, WI
- Hartford-West Hartford-East Hartford, CT
- Racine, WI
- Manchester-Nashua, NH
- Lancaster, PA
- Norwich-New London, CT
- Rochester, NY
- Springfield, IL
- Rockford, IL
- Springfield, MA
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What Buyers Should Do Now
If you’re looking to buy a home or investment property in 2026, here’s how you can take advantage of today’s favorable market conditions:
Look for Deals in Strong Long-Term Markets
Temporary price cuts can create great buying opportunities! Just be sure that you’re buying in a strong long-term market where home prices are likely to rebound in the coming years. Job growth, population growth, and favorable business environments could spur future appreciation.
Negotiate Under Asking Price
Home prices have dipped in many markets, which means you could potentially negotiate a lower purchase price. Many sellers are also covering buyer closing costs, which could help you bring even less money to the closing table!
Look Into New Build Properties
Builders are giving sizable incentives on new construction homes. These often include interest rate buydowns and closing credits, allowing you to get a discounted property and walk into home equity when you close.
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Get Ready to Buy!
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What Should Sellers Do Now
If you’re looking to sell your home in 2026, here are a few things to keep in mind:
Reconsider If You Have to Sell
There are far more sellers than buyers in many markets, which means you could be waiting many months for your home to sell, and you might even need to take a haircut to move it. If you don’t have to sell right now, consider waiting until selling conditions improve.
Price Accurately and Based on Local Comps
If you’re selling in a buyer’s market, you may not be able to get what you think your home is worth. Look at what similar homes are selling for in your area when determining your asking price.
Take Offers Seriously
What might’ve seemed like a low offer a few years ago could be much more realistic today based on current home prices. Rather than passing on an offer that’s below your asking price, consider whether it’s actually a fair price for your home. Opportunities to sell may be few and far between!
A Huge Opportunity for Real Estate Investors?
There are strong buyer’s markets across the U.S., but it’s worth noting that many of them also have strong long-term fundamentals. Areas like Florida and Texas have growing populations, consistent job growth, and strong economies. In these types of markets, you could potentially buy properties at discounted prices and profit when home values and rents eventually rise.
If you’re in a seller’s market and own “headache” properties, selling them and moving your money into lower-cost, high-return turnkey rentals could help you shift toward more passive income streams!
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Is It a Buyer’s or Seller’s Market FAQs
Is It a Buyer’s or Seller's Market Right Now?
As of Spring 2026, signs point to a strong buyer’s market. Days on market are up, mortgage rates remain relatively high, and there are significantly more sellers than buyers overall.
Should I Buy a House Now or Wait in 2026?
If you have the means to buy a house or buy a rental property in 2026, taking advantage of the current buyer’s market could help you get a great deal at a great price. If you wait too long, the market could shift again!
What Is a Buyer’s Market?
A buyer’s market is when negotiating power shifts to the buyer’s side. This could mean that interest rates are higher, there’s less competition, and there’s housing oversupply. This allows many buyers to negotiate the purchase price, ask for seller concessions, and get more of their offers accepted.