The Number of U.S. Homebuyers Just Dropped to a Record Low, Shifting the Market Further in Buyers’ Favor

Sellers outnumbered buyers by 51% in July—just shy of December’s record high—giving buyers more negotiating power. The number of buyers in the market fell to a record low of about 967,000 amid historically high housing costs, almost half a million fewer than the 1,463,000 sellers. Nearly 80% of major U.S. metros…