T
he US residential real estate market has undergone a significant shift, with buyers now outnumbering sellers by nearly 500,000. This is the largest gap between the two groups since data compilation began in 2013. The post-pandemic frenzy that saw sellers with multiple offers has given way to anxious sellers looking for anyone to make an offer.

    Despite the median price of existing homes rising nationally by 1.8% in April to $414,000, major pockets of the country are seeing prices slashed to lure prospects back into the market. In some areas, like Florida and Texas, prices have been reduced this spring to attract buyers. However, in other regions, such as the New York City suburbs, properties continue to see rising prices, albeit at a slower pace.

    Inventory is piling up in the South and West, with homes sitting on the market for months. Canceled sales also rose in April, a seller's worst nightmare. The uncertainty caused by President Trump's tariff agenda has had a lasting impact on the market, leading buyers to take advantage of the situation. In some areas, sellers are now offering concessions, such as repainting or renovating homes, just to secure an offer.