U.S. Home Sellers Exceed Buyers by 47% in March as Economists Reject 2008 Crash Parallel
Updated
Updated · WHRO · Jun 10
U.S. Home Sellers Exceed Buyers by 47% in March as Economists Reject 2008 Crash Parallel
3 articles · Updated · WHRO · Jun 10
Summary
Redfin said sellers outnumbered buyers nationwide by nearly 47% in March, the widest gap since 2013, while mortgage rates stayed high and home values slipped from pandemic-era peaks.
Economists said the resemblance to pre-2008 conditions is superficial because lending standards are tighter, most mortgages are fixed-rate, and today’s borrowers generally hold more equity.
Southern metros that added housing during the pandemic boom are seeing the biggest seller-buyer gaps as high borrowing costs and economic uncertainty cool demand and push prices lower.
Hampton Roads shows the split in local conditions: sellers exceed buyers by just 6%, home and rent costs are still rising, and officials see undersupply and affordability pressure rather than systemic risk.
Analysts said the market is recalibrating, not unraveling, because many owners can stay put with low existing mortgage rates instead of being forced into default as in 2008.