US Homebuyers Are ‘Quitting’ as Sellers Outnumber Buyers by 51.3%: Buyer Count Hits Record Low

Market commentator The Kobeissi Letter said U.S. homebuyers are pulling back as seller surplus over buyers widened in July.

In a post on X on Sunday, The Kobeissi Letter said sellers outnumbered buyers by an estimated 51.3% in July, the second-highest gap on record. Active homebuyers fell 2.5% month over month to 966,752, the lowest level on record, while sellers declined 0.3% to about 1.46 million. It said about 80% of major U.S. metros are now buyer’s markets and warned of further downward pressure on home prices.

Homebuyers Fall to Record Low

The figures The Kobeissi Letter highlighted come from Redfin’s July analysis of buyers and sellers using MLS data and Redfin’s proprietary data. The analysis estimated 966,752 active homebuyers in July, down 2.5% from the previous month, while the number of sellers stood at about 1.46 million.

The 51.3% gap between sellers and buyers was the second-highest level on record, behind the 51.8% gap recorded in December 2025.