Real Estate Market Briefing
Summary
The U.S. housing market is experiencing its strongest buyer’s market in over a decade, with a significant surplus of sellers over buyers. However, severe affordability challenges are preventing many potential buyers from participating, creating a complex and constrained environment.
Key Points
- Supply-Demand Imbalance: In October, there were an estimated 36.8% more home sellers than buyers, the largest gap since 2013.
- Affordability Crisis: Real estate firms cite housing affordability as their single biggest business challenge, pricing many Americans out of the market.
- Persistent Price Growth: Despite market weakness, national home prices in September were still 1.2% higher than a year ago and ~50% higher than pre-pandemic levels.
- High Costs & Overvaluation: Mortgage rates remain high, and about 75 of the top 100 housing markets are considered overvalued.
- Shifting Leverage: In some areas like Washington, D.C., buyers are finding more leverage to negotiate price concessions and repairs.
- Weak Future Demand: Builder sales expectations for the next six months have dropped, indicating continued demand-side weakness.
房地产市场简报
总结
美国房地产市场正经历十多年来最强劲的买方市场，卖家数量远超买家。然而，严重的负担能力问题阻止了许多潜在买家入市，形成了一个复杂且受限的市场环境。
关键点
- 供需失衡：十月份，估计卖家数量比买家多出36.8%，这是自2013年以来的最大差距。
- 负担能力危机：房地产公司指出，住房负担能力是其业务面临的最大挑战，使得许多美国人被排除在市场之外。
- 持续的价格增长：尽管市场疲软，九月份全国房价仍比去年同期上涨1.2%，比疫情前水平高出约50%。
- 高成本与估值过高：抵押贷款利率仍处于高位，全美前100大住房市场中约有75个仍被认为估值过高。
- 议价权转移：在华盛顿特区等部分地区，买家发现他们拥有更多议价权，可以寻求价格让步和维修要求。
- 未来需求疲软：建筑商对未来六个月的销售预期已经下降，表明需求侧的疲软将持续。
Original Article Link: https://www.cnbc.com/2025/11/19/housing-numbers-buyers-market-affordability.html