US housing market shows far more sellers than buyers in February 2026, 46.3% more sellers than buyers, widest gap since 2013. Further home price cuts are likely coming.

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The housing market is running out of buyers:

There were an estimated 46.3% more home sellers than buyers in February 2026, the biggest difference since Redfin data began in 2013.

This gap has widened sharply from 29.8% a year ago, marking the strongest market for buyers in over a decade.

By comparison, there were a record 36.0% more buyers than sellers in November 2022.

This comes as the number of active homebuyers fell -2.4% MoM, to ~1.36 million, the lowest since at least 2013.

At the same time, the number of sellers declined -0.4% MoM to ~1.99 million, posting a smaller decrease than homebuyers.

Further home price cuts are likely coming.