Two Sides of the Current Housing Market

Is the Market Hot or Not? It Depends on Your Zip Code. Depending on where you are, the housing market might feel like a bidding war—or a ghost town. That’s because local markets are shifting in different directions. In some areas, buyers are gaining leverage. In others, sellers are still in control. It’s truly a tale of two markets.

So, what’s the difference between a Buyer’s Market and a Seller’s Market?

In a buyer’s market, there are more homes than buyers. That gives buyers the upper hand—more options, more time to decide, and more room to negotiate. Prices often soften as supply outweighs demand.

In a seller’s market, it’s the opposite. Inventory is tight, and demand is high. Homes sell quickly, often with multiple offers, and prices trend upward as buyers compete.

Right now, both types of markets are playing out across the country—sometimes even within the same state. Want to know which one you’re in? A local real estate expert can break it down for you by tracking what matters most: buyer activity and available listings in your area.

Buyers vs. Sellers by Region

One of the biggest factors shaping local conditions is the ratio of buyers to sellers. According to Redfin, here's how the landscape looks across different regions (see chart below):

Regional Shifts Are Reshaping the Market Right now, the Northeast and Midwest are leaning firmly toward seller’s markets. Buyer demand is still strong, listings are limited, and homes are moving quickly—often with price increases to match.

Meanwhile, the South and West are tilting toward buyer’s markets. There’s more inventory on the market and fewer buyers competing, which means more choices and more negotiating power for those looking to buy.

That’s a big change from just a few years ago, when sellers held the upper hand almost everywhere. Today, local trends are driving the market—and they can differ dramatically not just by region, but from one neighborhood to the next.

Prices Are Reflecting the Shift

As supply and demand move, prices follow. In areas where demand still exceeds inventory—like much of the Northeast and Midwest—home values are still climbing.

But in parts of the South and West, where listings are up and buyer activity has slowed, prices are softening—giving buyers more room to negotiate.

New data from ResiClub highlights just how wide the divide is across top U.S. metros (see chart below).

It’s the Tale of Two Markets—for Real Across the country, it’s a split screen. About half of the top 50 metro areas are seeing home prices rise, while the other half are flat—or slipping slightly. But that doesn’t mean homeowners in softening markets should worry.

If you’ve owned your home for more than a couple of years, chances are you’ve built up a healthy amount of equity. So even if prices are cooling in your area, you’re likely still in a strong position when it’s time to sell.

Why Local Knowledge Is Everything

Here’s the truth: even in regions that are trending more buyer-friendly, there are cities—and even specific neighborhoods—where sellers still have the edge. That’s where working with a local expert matters most.

A trusted agent can help you:

• Pinpoint whether your area favors buyers or sellers
• Price your home competitively or craft a smart offer
• Navigate your next move with a plan that fits today’s local conditions

Real estate isn’t one-size-fits-all. It’s hyper-local—and a smart strategy starts with knowing what’s happening on your street, not just in the headlines.

Bottom Line

In a market where conditions can shift dramatically from one region—or even one neighborhood—to the next, success starts with a deep understanding of your local landscape. The right strategy isn’t based on national headlines—it’s built on what’s really happening around you. That’s why working with a local real estate expert is essential. When you connect with a trusted agent, you’re gaining a partner who knows your market inside and out and can guide you confidently through every step of the process—no matter where you’re starting from.