T
wo recent agent surveys suggest the housing market is slowly shifting in favor of buyers. Transaction activity is slowing, and market leverage is moving towards buyers, according to a Real Brokerage survey that included insights from over 260 agents across the US and Canada. In May, 43% of agents said their local market favored buyers, while only 28% believed sellers had the upper hand.

    Rising inventory levels, homes sitting on the market for longer periods, and increased room for price negotiations are driving this shift. "The spring market is clearly tilting toward buyers," said Real Chairman and CEO Tamir Poleg. "But even with this shift in leverage, affordability remains a key hurdle."

    A separate survey by John Burns Research and Consulting (JBREC) and Keeping Current Matters (KCM) found that 40% of agent respondents reported buyers outnumbered sellers in May, down from 63% last year. The Northeast and Midwest still favor sellers, while other regions like Florida, Texas, and parts of California have a more balanced market.

    Affordability remains the top issue for buyers, with 50% of agents citing it as the biggest challenge. Economic uncertainty is also growing, with 28% of agents identifying it as the primary obstacle to homeownership.

    Pricing trends indicate a shift towards a buyer's market, with 33% of agent respondents reporting mostly decreasing prices month-over-month. Fewer homes are seeing bidding wars, and only 25% of transactions nationally had multiple offers in May, down from 35% last year.

    While overall agent sentiment remains positive but tempered, the shift may require agents to reassess their client strategy. With fewer bidding wars and longer selling times, sellers must accept that their home may take longer to sell. "My listings are just sitting on the market after many price reductions," said an agent in Santa Cruz, California.