The balance of the national housing market is shifting. According to a recent report highlighted by the St. Louis Business Journal, sellers outnumbered buyers by 51% in July 2026, giving active buyers more choices and greater negotiating power.
Redfin estimates that approximately 967,000 buyers were actively searching for homes in July, the lowest level recorded since the company began tracking the data in 2013. Meanwhile, nearly 1.5 million homes were on the market.
Why Are Buyers Holding Back?
Affordability remains the biggest obstacle. Mortgage rates reached a one-year high over the summer, while the national median home-sale price rose to $407,730. Insurance, property taxes and other ownership costs have also made prospective buyers more cautious.
The result is an unusual market: buyers may have more leverage, but fewer people feel ready to use it.
Nearly 80% of the major metropolitan areas analyzed by Redfin now favor buyers. The strongest buyer’s markets are concentrated in parts of Florida, Tennessee and Texas, where extensive new construction has added to the available inventory.
What Does This Mean for St. Louis Real Estate?
National statistics provide useful context, but they do not tell the entire story in St. Louis. Our market varies considerably by neighborhood, price range and property type.
Updated, well-priced homes in desirable St. Louis neighborhoods can still attract immediate interest and multiple offers. Properties that are overpriced or need substantial work may remain available longer, giving buyers more room to negotiate.
For buyers, the current market may offer opportunities that were difficult to find several years ago. Depending on the property, there may be more flexibility surrounding price, inspections, repairs, closing costs or the timing of the sale.
For sellers, preparation and pricing are increasingly important. Buyers have more options and are carefully comparing condition, location and value before making an offer. A thoughtful pricing strategy and strong presentation can make the difference between a successful sale and a home that lingers on the market.
A Market That Rewards Good Advice
Calling the entire country a “buyer’s market” oversimplifies what is happening locally. Some St. Louis homes continue to sell quickly, while others require patience and adjustment.
Whether buying or selling, the best approach is to look closely at recent activity for comparable properties in the specific neighborhood and price range. The market has become more balanced, but the right strategy still depends on the individual home.
