At the end of February 2026, the U.S. housing market received a new report from Redfin for January, which showed that the number of sellers exceeded the number of buyers by 44%. In absolute terms, this represents a gap of approximately 600,314 participants.

📊 Among major metropolitan areas, Miami stood out as the leading example. According to aggregated Redfin data, in January the number of sellers in Miami exceeded buyers by roughly 159%. This marks the strongest buyer-side imbalance among major U.S. markets during the period.

At its core, the real estate market is driven by the balance between supply and demand. When the number of sellers significantly exceeds the number of buyers, competition shifts away from buyers, as seen in 2021–2023, and toward listings themselves. As a result, sellers are forced to stimulate demand through price reductions, concessions, and more flexible negotiation terms.

📉 This shift is also visible in Miami’s key market indicators. According to Redfin, the median sale price in January 2026 was $610,000, which is 7.2% lower year-over-year. At the same time, the average days on market increased to 115 days, compared to 103 days a year earlier.

Another factor strengthening the buyer’s position in previously overheated Sun Belt markets is improving affordability. Redfin data shows that in January U.S. home prices grew by approximately 1% year-over-year, while wages increased by 3.7%. Meanwhile, the average 30-year mortgage rate declined to around 6.1%, the lowest level since 2022. This does not make housing cheap, but it does improve buyers’ negotiating power.

💰 It is also important to note that Miami remains a market with strong demand in the premium segment. According to Miami Realtors, sales of properties priced above $1 million in Miami-Dade increased by approximately 21% year-over-year in January 2026, across both single-family homes and condominiums. This indicates that the oversupply is more pronounced in the mass market segment.

What this means for buyers right now:

— Negotiation is becoming standard practice again. Buyers can more often negotiate price, repairs, closing cost credits, and timelines, especially if a property has been on the market for an extended period.
— More choice is available. A larger inventory allows buyers to compare dozens of options instead of just a few, and secure better terms in terms of location, HOA fees, and property condition.

🚀 If the current dynamics continue to develop as a buyer’s market, this creates a rare window where entering the market can be done from a stronger negotiating position. On our website, you can explore current listings in Miami and find a property that matches your budget and preferred location.