Is today’s housing market better for buyers or sellers?

The most accurate answer is: it depends on where you are buying or selling.

A homebuyer in Kansas City may face different conditions than someone shopping in Chicago. The balance of power may also vary between Omaha and Lincoln, across neighborhoods in St. Louis or Des Moines, and from one Florida city to another.

Even within the same metro area, market conditions can change based on the neighborhood, property type, price range, and condition of the home. That is why national headlines may provide helpful context, but they should not determine your entire homebuying or selling strategy.

One Number Can Reveal Who Has More Leverage

One of the most useful ways to evaluate a housing market is to look at the months’ supply of available homes.

Months’ supply estimates how long it would take to sell the homes currently on the market if no additional properties were listed, based on the current pace of sales.

As a general guideline:

  • Fewer than four months of supply: Conditions typically favor sellers.
  • Four to six months of supply: Buyers and sellers may be on more balanced footing.
  • More than six months of supply: Buyers generally have more choices and may have greater negotiating leverage.

The National Association of Realtors reported a 4.6-month supply of existing homes in July 2026, placing the national market within a generally balanced range. However, NAR also emphasized that conditions vary significantly from one local market to another. [nar.realtor], [fred.stlouisfed.org]

That national number is useful, but it does not tell you exactly what is happening in your city, neighborhood, or price range.

A Balanced National Market Does Not Mean Every City Is Balanced

Housing is highly local. Some markets have more available homes and fewer active buyers, creating greater opportunities to negotiate. Other markets continue to experience limited inventory and strong competition, giving well-positioned sellers more leverage.

Redfin estimated that there were 48.5% more active home sellers than buyers nationally in June 2026. Its analysis identified several Florida metros—particularly Miami—as some of the country’s strongest buyer-leaning markets. However, Redfin’s methodology differs from the traditional months-of-supply measurement, and neither national nor metro-level data can capture every neighborhood or property segment. [redfin.com]

The takeaway is not that every buyer automatically has the upper hand. It is that buyers may have more opportunities to negotiate than they did during the highly competitive market of a few years ago.

What This Means for Buyers

In a buyer-leaning market, you may find:

  • More homes from which to choose
  • Fewer multiple-offer situations
  • Longer listing times
  • More price reductions
  • Greater flexibility on closing dates
  • Opportunities to request repairs
  • Potential seller contributions toward eligible closing costs
  • Possible negotiations involving mortgage-rate buydowns

These conditions do not mean every seller will accept a lower offer or provide concessions. A desirable, well-maintained home that is priced correctly may still attract strong interest.

Before requesting a seller contribution, speak with your mortgage professional. The amount and type of contribution allowed can depend on the loan program, occupancy, down payment, property type, and other transaction details.

What This Means for Sellers

A more balanced market does not mean sellers cannot have a successful sale. It does mean that pricing, presentation, and preparation may carry more weight.

Sellers should consider:

  • Setting a price supported by recent comparable sales
  • Addressing obvious repairs before listing
  • Preparing the home to show well online and in person
  • Reviewing competing listings
  • Being open to reasonable negotiations
  • Evaluating the entire offer—not only the purchase price
  • Understanding which concessions may help move the transaction forward

In areas where inventory remains limited, sellers may still receive significant interest. However, buyers generally have access to more information and may be less willing to overlook an overpriced or poorly maintained property.

How Conditions May Differ Across Our Markets

Kansas City

Kansas City spans communities in both Missouri and Kansas, so market conditions can change across state lines, suburbs, school districts, and price points. Buyers should evaluate property taxes, insurance, commuting costs, and the home’s overall condition—not simply its purchase price.

Some Kansas City homes may attract quick offers, while others may provide room to negotiate. Your strategy should reflect recent sales and current competition in the specific community where you are shopping.

St. Louis

The St. Louis region includes a wide range of neighborhoods, municipalities, and surrounding communities. Inventory and buyer demand may differ significantly depending on the location, home style, condition, and price range.

Buyers should review local comparable sales and understand whether similar homes are selling quickly, receiving multiple offers, or remaining available long enough to create negotiating opportunities.

Des Moines

In the Des Moines area, buyers may encounter different conditions between established neighborhoods, growing suburban communities, new construction, and surrounding towns.

Compare the full financial picture, including property taxes, homeowners insurance, utility expenses, association dues where applicable, and anticipated maintenance. New construction sellers may also offer incentives, but those incentives and their financing implications should be carefully reviewed.

Omaha

The Omaha market can vary by neighborhood, property type, and price point. A move-in-ready home in a popular area may generate strong demand even when the broader market appears balanced.

Buyers should be prepared to act quickly when the right home becomes available, while still completing appropriate inspections and evaluating the complete cost of ownership.

Lincoln, Nebraska

Lincoln buyers may find competition for certain affordable or well-maintained homes, while other properties offer more time and flexibility for negotiation.

Pay attention to recent comparable sales, days on market, price reductions, and the condition of major systems such as the roof, foundation, HVAC, plumbing, and electrical components.

Chicago and the Surrounding Area

Chicago-area conditions can differ dramatically between city neighborhoods, suburban communities, and property types.

A condominium purchase may involve association dues, special assessments, parking costs, and association financial documents. A single-family home may have different maintenance and insurance considerations. Buyers should also account for property taxes and other location-specific ownership expenses when determining an affordable monthly budget.

Florida Cities

Florida is not a single housing market. Conditions can vary considerably among Miami, Fort Lauderdale, West Palm Beach, Naples, Fort Myers, Sarasota, Tampa, Orlando, Jacksonville, Tallahassee, Gainesville, Pensacola, and other coastal and inland communities.

Recent national research has shown particularly buyer-friendly conditions in parts of Florida, but that does not mean every city, neighborhood, condominium building, or price range favors buyers. [redfin.com]

Florida buyers should look beyond the asking price and investigate:

  • Homeowners insurance availability and cost
  • Flood-zone information
  • Potential flood or wind coverage
  • Condominium or homeowners association dues
  • Possible special assessments
  • Property taxes
  • Roof age and condition
  • Storm protection features
  • Maintenance requirements
  • Property-specific inspection findings

These factors can affect both the monthly cost of ownership and, in some situations, available financing options.

The Biggest Mistake Buyers and Sellers Can Make

The biggest mistake is assuming that every market favors buyers—or that every market still favors sellers.

Consider these two possible situations:

Scenario One: The Buyer Has More Leverage

A home has been listed for several weeks, competing properties are available, and the seller has already reduced the price. A qualified buyer may be able to negotiate repairs, eligible closing-cost assistance, or other favorable terms.

Scenario Two: The Seller Has More Leverage

A well-priced home is newly listed in a desirable neighborhood with limited comparable inventory. Several buyers are interested, and waiting too long or submitting an uncompetitive offer could mean losing the property.

Both scenarios can happen within the same city—and sometimes within the same neighborhood.

Your Financing Position Also Matters

Market conditions are only one part of a successful home purchase. Your individual financial readiness can influence how confidently and competitively you can proceed.

Before shopping for a home, consider speaking with a mortgage professional to:

  • Review possible loan options
  • Discuss available funds for closing
  • Estimate a comfortable monthly payment
  • Identify documentation requirements
  • Understand how property taxes and insurance may affect the payment
  • Learn whether eligible homebuyer assistance may be available
  • Obtain a preapproval when appropriate

A preapproval is not a guarantee of final loan approval. Financing remains subject to verification, underwriting requirements, an acceptable property, and other applicable conditions.

Local Data Should Guide Your Strategy

National housing reports can help explain the broader environment, but your offer or listing strategy should be based on current local information.

Useful questions include:

  • How many comparable homes are currently available?
  • How long are similar properties taking to sell?
  • Are homes selling above or below their original asking prices?
  • How often are sellers reducing their prices?
  • Are sellers providing concessions?
  • How frequently are homes receiving multiple offers?
  • Does the pattern change by neighborhood or price range?

Your real estate professional can help evaluate local sales and listing activity, while your mortgage professional can help you understand how the purchase price, loan structure, taxes, insurance, and negotiated terms may affect your financing.

Bottom Line

Today’s housing market is not one-size-fits-all.

Buyers may have more negotiating opportunities in some communities, while sellers continue to hold an advantage in others. The right approach depends on the city, neighborhood, property type, price range, and specific home.

Whether you are planning a move in Kansas City, St. Louis, Des Moines, Omaha, Lincoln, Chicago, or anywhere in Florida, start with reliable local data and a financing plan tailored to your situation.

Ready to explore your homebuying options? Connect with a local real estate professional and mortgage professional to understand today’s market and prepare a strategy for your next move.

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