Homebuyers are leaving the U.S. housing market at a record pace, according to a new study. Nationally, sellers outnumbered homebuyers by nearly 52 percent in July, and the number of buyers fell to a record low, new data from housing marketplace Redfin revealed Thursday. That’s good news for the buyers remaining in the market – there’s more supply than demand, which usually means sellers are more willing to bend on price, said Redfin Senior Economist Asad Khan.“Buyers have leverage, while motivated sellers may be willing to negotiate before the early-fall rush brings some buyers back to the market,” Khan said in a statement. “This could be the best chance for buyers and sellers to meet in the middle.”There are roughly 500,000 more homes than buyers on the market right now, the study noted. Miami has the strongest buyer’s market in the country, where the number of homes is more than 150 percent higher than the number of buyers (AFP/Getty)As a result, 39 of America’s 49 largest metro areas are buyer’s markets, which Redfin defines as a location where buyers outnumber sellers by at least 10 percent. The top five buyer’s markets in the country right now are Miami with 154 percent more buyers than sellers, Nashville at 150.8 percent, Houston at 129.8 percent, San Antonio at 116.3 percent and Austin at 1211.9 percent. “House hunters in those places have a lot of negotiating power,” the study said. Seven of the nation’s 49 biggest metro areas are seller's markets, where demand for homes outpaces available buyers. There are 36.2 percent fewer homes than buyers in Nassau County, New York; 20.7 percent in Newark; 16.7 percent in Providence, Rhode Island; 15.1 percent fewer in Milwaukee and 12.9 percent fewer in New Brunswick, N.J.While the number of buyers puts the negotiating power in the hands of those wanting to purchase a house, there are two important factors that may be holding those remaining buyers back: mortgage rates and home prices. The average mortgage rate rose every week in July, starting the month at 6.43 percent and ending at 2026 high of 6.66 percent, according to federal data. The first week of August, the rate jumped even higher to 6.69 percent.High home prices also plague the market. Through June, homes sold for an average of $502,700, around $38,000 lower than the all-time high of $541,300 at the end of 2025, according to data from the Federal Reserve Bank of St. Louis.