Sellers are flooding the market this spring — but buyers aren’t biting
In the middle of what’s usually the busiest season for real estate, a strange trend is emerging across the U.S.: home listings are soaring, but buyer demand is falling behind. While inventory in cities like Orlando is up more than 40% compared to last year, sales are down by double digits. Many buyers, faced with high prices and affordability concerns, are taking a pass — or negotiating hard.
Sellers List High, But Homes Are Sitting
Realtors from coast to coast report a noticeable disconnect: sellers still think it’s 2021, pricing homes optimistically, only to slash prices later when buyers don’t come.
- Zillow reported that 25% of listings had a price cut in April, the highest since at least 2018
- The median list price hit a record $469,729 in March, but homes are selling for 9% less
- On average, homes are taking 50 days to sell, a noticeable slowdown from pandemic-era frenzies
In Orlando, Eve Metlis of Watson Realty Corp. called it “aspirational pricing.”
“Buyers have their choice, even though the market is stabilizing,” she said.
In Denver, Realtor Riley Wegner says deals now include more concessions than before, even when sellers get full-price offers.
Buyer Frustration, Seller Flexibility
As home prices remain high and affordability tight, especially for first-time buyers, many are shopping carefully — and with leverage.
- Realtor.com found inventory up 30% nationwide year-over-year
- More buyers are asking for closing cost help or offering below list — and getting accepted
- In Kansas City, Realtor Austin Moore warns sellers: “If you don’t price your home correctly from the start, it’s going to sit there.”
In Philadelphia, the balance still favors sellers due to tight zoning laws and limited space to build. But even there, some sellers are open to negotiation.
Buyer Sadiyah Cook, 23, and her husband found 4 out of 15 homes willing to cover closing costs, helping them buy their first house just outside the city.
“Sometimes you have to take that leap of faith,” she said. “That’s what we did, and it worked out for us.”
What’s Next? Price Cuts and Patience
Experts say buyers may see more opportunity as summer peaks.
- Historically, listings peak in July or August before declining
- Mortgage rates are slightly lower than last year, and incomes are rising slowly
- But the market remains a split-screen: stable sellers vs. cautious buyers
“Even after price cuts, sellers are still in a pretty good position,” said Danielle Hale, chief economist at Realtor.com.
Whether the market tips further toward buyers or rebounds in favor of sellers will depend on how the economic landscape shifts heading into fall.
Information sourced from:
- Zillow.com
- Realtor.com
- Watson Realty Corp.
- Redfin (https://www.redfin.com)
- Interviews with realtors across Orlando, Kansas City, Denver, and Philadelphia
