---
title: Homebuyers Have the Upper Hand in the US Housing Market Right Now
description: The number of Americans trying to buy a home just hit a record low, and sellers now outnumber them by about half. What a buyer's market means for you.
author: Darie Nani (Editor-in-Chief)
date: 2026-08-24T09:31:21.294Z
updated: 2026-08-24T09:31:21.303Z
canonical: https://richdadmagazine.com/article/us-housing-buyers-market-record-low-buyers-186761
image: https://cdn.nanimediahouse.com/us-housing-buyers-market-186761.webp
categories: Real Estate
content_type: News
region: United States
publication: Rich Dad Magazine
schema_type: Article
---

If you are shopping for a home this fall, you have more room to negotiate, more houses to choose from, and more freedom to walk away than buyers have had in years.

That is the takeaway from Redfin's latest read on the market. The number of people trying to buy a home in the United States dropped to a record low in July 2026, and there were roughly 51% more sellers than buyers looking to make a deal, close to a record. That imbalance decides who has to bend in a deal.

## Buyers Set the Terms in a Market Crowded With Sellers

A market with a record-low pool of homebuyers and a large surplus of sellers is, by definition, a buyer's market. When you tour a house, you are one of fewer shoppers competing for it, and the owner knows there are more homes like it sitting unsold. That shifts the leverage to your side of the table.

In practice, that means you can ask for repairs after an inspection, push back on price when an appraisal comes in low, and request concessions a seller would have laughed off during the bidding wars of 2020 through 2022. It also means you can walk. Redfin says house hunters today have enough options that they are quicker to leave a deal when something goes wrong rather than stretch to make it work.

> "Buyers know they have options right now, so they're pushing harder in negotiations. That can be tough for sellers, but it's good news for buyers."
> — Juan Castro, Redfin Premier agent in Orlando

## Cancellations Are Up Only Slightly

One visible symptom of that leverage is that more agreed sales are collapsing before closing. [Redfin reports](https://www.redfin.com/news/contract-cancellations-july-2026/) that 14% of home-sale agreements that went under contract in July fell through, the highest share since November 2023 on a seasonally adjusted basis, up from 13.7% a month earlier.

Keep that number in proportion. The share of deals falling apart has stayed within a narrow band, roughly 13% to 14%, for the past four years. It is higher than during the hot seller's market earlier this decade, but it is not a dramatic spike, and it is not a sign the market is breaking. It is what happens when cautious buyers hold the cards.

Affordability is part of why they are cautious. Home prices are still high and mortgage rates remain elevated, which leaves many households little financial cushion. Castro said some buyers get cold feet before an inspection even happens: they revisit the numbers with their lender, get anxious about the monthly payment, and never send the deposit. Others find something relatively minor in an inspection and use it to ask for major concessions or to back out entirely.

## If You Are Buying, Use the Leverage With a Clear Head

Because you have choices, you can afford to be patient and let a deal go if the inspection or appraisal turns up real problems. Run the payment with your lender before you make an offer, not after, so a bout of cold feet does not cost you a deposit on a house you were never sure about.

## If You Are Selling, Clear the Surprises First

You are the one who has to compete now, so remove surprises before they cost you a buyer. A pre-listing home inspection lets you find and fix problems on your own timeline instead of discovering them mid-deal, when a nervous buyer can turn a small issue into a reason to renegotiate or walk.

If a deal does fall through, it is not necessarily a loss. A canceled sale puts your home back in front of house hunters who missed out the first time, and one of them may close where the last buyer did not.

The rest of Redfin's data points the same way. US home sales fell 4.1% from June to July, their lowest level in nearly two years, with the sharpest drops in Texas and Seattle, where high prices and tech-sector layoffs are keeping buyers on the sidelines.

## FAQ

**Q: Is it a good time to buy a house in 2026?**
That depends on your budget. Buyers have leverage on price, repairs, and concessions, which is a real advantage. But prices remain high and mortgage rates are elevated, so run the monthly payment with a lender first and buy only if the numbers work for your household.

**Q: Should I waive the inspection or other contingencies to win in a buyer's market?**
Usually no. Waiving contingencies is a tactic for a hot seller's market where buyers are competing for the same house. With a record-low number of buyers and far more sellers than buyers, you rarely need to give up those protections to get an offer accepted. The inspection, appraisal, and financing contingencies are what let you renegotiate or walk away and recover your deposit if something goes wrong, and right now you have the leverage to keep them.

**Q: What happens to my earnest money if I back out?**
It depends on your contract. Standard purchase agreements include contingencies, such as inspection and financing windows, that let a buyer cancel and recover the earnest money if they back out for a covered reason within the agreed timeline. Backing out for a reason not protected by a contingency can put that deposit at risk, so read your contract and ask your agent before you walk.