Buyer’s or Seller’s Housing Markets Can Vary Greatly by Geography

U.S. News Housing Market Index ranking compares demand, supply and financial health

LONG BEACH, CA, UNITED STATES, June 19, 2025 /EINPresswire.com/ -- A recent report published by U.S. News & World Report and authored by MetroIntelligence Principal Patrick S. Duffy reviews over 50 metropolitan areas across the United States to compare buyer’s versus seller’s markets.

The analysis was completed using the U.S. News Housing Market Index (HMI) for February 2025. The HMI is an interactive data set which aggregates a large variety of public and private data points categorized by their impacts on housing demand, supply and financing. Index values range on a scale of 1-100 with 100 being the hottest. The index is also cited in three additional recent updates by Duffy on the most overvalued, undervalued and hottest housing markets in the country.

“While the overall U.S. is still a buyer’s market due to low inventory, that’s certainly not the case in multiple local areas,” says Duffy, who frequently contributes to U.S. News as a Senior Real Estate Economist. “With rising costs for mortgages, insurance, property taxes and maintenance, we’re seeing a shift to buyer’s markets in formerly high-flying MSAs in Florida and Texas which soared during the pandemic years. Meanwhile, the same large coastal cities which saw residents leaving just a few years ago are rebounding strongly, especially as employers regain the upper hand and are asking workers to return to local offices on a full-time basis.”

Looking at months of supply, if 5.0 to 6.0 months indicates a neutral market, the national average of 3.5 months suggests more of a weakening seller’s market since it rose from 2.9 months in February 2024. However, if you’re looking to buy in Miami or Cape Coral in Florida, their sharp jumps in months of inventory year-over-year to surpass 10 months has tipped the power balance strongly towards buyers. Meanwhile, in a variety of markets including Seattle, Omaha, San Jose and San Diego, there was just 1.6 to 1.9 months of inventory, or strongly favoring sellers.

Looking at days on market, while the national average rose from 48 to 54 year-over-year through February, it jumped to over 90 in Miami and Austin. However, in San Jose, Seattle and San Francisco, homes got snapped up in 15 days or less.

Looking at median sales prices, while the national figure rose 3.4% year-over-year, they fell nearly -9% in North Port, Florida and from -2.5% to -3.2% in Cape Coral, Florida and Austin. Yet in markets including San Jose, Detroit, Cleveland and Miami, median sales price surged 9.5% to 12.6% over the same month of 2024.

“Although months of supply is the most common metric used to gauge the competitiveness of a local housing market, there are certainly other figures that sellers, buyers and their agents should be monitoring,” says Duffy. “An experienced and knowledgeable agent should be able to clearly explain how and why these local metrics matter, especially since national changes may differ. At stake for the seller is leaving money on the table, whereas the stake for the buyer is overpaying for an important asset.”

Another factor at play with home sales is the emerging battle regarding the National Association of Realtor’s Clear Cooperation Policy, which requires brokers to submit new listings to their local MLS systems “within one business day of publicly marketing a property.” As Duffy writes, although some brokers are expanding “office exclusive” or “pocket” listings and initially avoiding MLS systems in the pursuit of “seller choice,” detractors note that limiting exposure within a brokerage can negatively impact transparency for the types of competitive sales that appraisers working for mortgage lenders use to determine home values.

In addition, studies from both Zillow and Bright MLS have determined that keeping listings off MLS systems can lead to lower sales prices. “To protect themselves in these confusing times, prospective buyers should insist on transparency and open communication, ensure they understand the pros and cons of private listings, and not rely on a single source for information,” advises Duffy. “Sellers should follow the same process and ensure they fully understand the implications of all marketing choices.”

About MetroIntelligence:
MetroIntelligence is an economics consulting firm focused on land use, and also provides public relations and corporate communications services to clients working in homebuilding, real estate development, finance and sales. Company founder and real estate economist Patrick S. Duffy began contributing to U.S. News & World Report in 2022, initially focusing on economics and other trends related to the housing market as well as analyzing their Housing Market Index. In late 2023, Duffy was promoted to U.S. News Senior Real Estate Economist to expand his portfolio to include multifamily housing as well as other commercial real estate sectors. For more information on MetroIntelligence, visit https://www.linkedin.com/in/metrointelligence/

Sean McNerney
MetroIntelligence
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