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The climate of the US housing market for buyers varies by country, and a new report shows that there are currently only eight metropolitan areas that are true buyer’s markets.
Realtor.com’s economist research team has released a diagnostic tool called the Market clock which tracks the housing market at the national and metropolitan levels based on months of supply, time on market, price changes and listing-to-sales ratio to reflect local conditions.
It tracks the 50 largest U.S. metros and finds in its first quarterly report that about half, or 46%, of the top markets are in balance, with neither buyers nor sellers having an edge; while 26% are sellers’ markets and only 16% are buyers’ markets.
The eight buyer markets are mainly located in the South, although there is one outlier in the West. None of the buyers’ markets were in the Northeast or Midwest, where strong demand and limited supply have kept the housing market in balance or given sellers an advantage.
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Eight of the 50 largest metropolitan areas in the U.S. were considered buyer’s markets in the Realtor.com report. (Loren Elliott/Bloomberg via Getty Images)
For all eight buyer markets, the market clock is at 5 o’clock, indicating that there is plenty of supply range of homes for sale with a growing number of offers and sellers cutting prices.
Half of the buyer’s markets are in Florida –Jacksonville, Miami, Orlando and Tampa. The others are Atlanta, Georgia; Austin, TX; Nashville, Tenn.; and Riverside, California.
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The buyer’s markets have more homes for sale and are increasing the supply of homes with new construction. (Mark Felix/Bloomberg via Getty Images)
Realtor.com senior economist Jake Krimmel said that while active listings in each of the eight buyer’s markets may not have increased year over year,
“Riverside and NashvilleFor example, we have seen the number of active listings increase by 222% and 330% respectively since high interest rates reignited the market in 2022 – significantly higher than the national average of 172% since March 2022,” he said.
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Miami and several other Florida cities were among the buyer’s markets in the report. (Joe Raedle/Getty Images)
The report noted that compared to June 2025, Atlanta, Austin, Nashville and Riverside all saw their position on the market clock decrease by one “hour”, from a late balanced market to an early buyers market. Jacksonville followed a similar pattern, moving from equilibrium to a buyer’s market.
On the other hand MiamiOrlando and Tampa were early buyer markets in June and remained steady at that level until late last year.
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Krimmel said potential buyers in all eight metros will have both time and options on their side this spring, giving them the opportunity to exert some degree of influence in negotiating prices and concessions with sellers.
