The US housing market is officially a buyer's market: There were an estimated +57.9% more home sellers than buyers in August, the biggest gap on record.

This is up sharply from +52.1% the month before, which was the 2nd-strongest buyer's market on record. This comes as the number of active sellers surged +3.9% MoM, or +57,958, to 1,534,918, the most since early 2020,marking the largest monthly increase on record. At the same time, there were ~972,300 active homebuyers, the 2nd-lowest reading on record. This brings the gap between active sellers and homebuyers to a massive 562,618. As a result, 36 of the 49 major US metros are now buyer's markets, led by Nashville, where sellers outnumber buy

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