Number of US Homebuyers Drops to Record Low in July

On Thursday, Redfin reported that the number of US homebuyers fell to its lowest level on record in July, widening the gap between buyers and sellers and giving remaining buyers greater negotiating power.

An estimated 966,752 buyers were in the market in July, down 2.5% from June. The number of sellers declined 0.3% to 1,462,921, the lowest level in a year. Sellers outnumbered buyers by nearly 500,000, or 51.3%, just below the record 51.8% gap recorded in December 2025 and up from 47.9% in June.

Redfin said the widening imbalance reflects weakening demand more than rising supply, as high home prices, elevated mortgage rates, and economic and geopolitical uncertainty have kept many prospective buyers on the sidelines. Miami, Nashville, and several Texas markets had some of the widest gaps between sellers and buyers.

Commenting on the report, Redfin Senior Economist Asad Khan said:

“Buyers are dropping out faster than sellers, giving the buyers who remain more options and more negotiating power. At the same time, uncertainty around whether the Fed will hike rates—and this summer’s rising mortgage rates—are keeping many would-be buyers on the sidelines. That makes the stretch between now and Labor Day a potential sweet spot for people who need to move: Buyers have leverage, while motivated sellers may be willing to negotiate before the early-fall rush brings some buyers back to the market. This could be the best chance for buyers and sellers to meet in the middle.”