The housing market continues to favor home buyers as 2026 begins. Redfin data for November 2025 found that over 37% more home sellers than buyers were active last November. It's a slight increase from 35.6% more sellers during October 2025, and a major improvement for buyers since late 2024, when there were only 17% more sellers.

Real estate markets are defined as a buyer or seller market when there is at least 10% more within one category than the other. Under this definition, it's been a buyer's market since May 2024. However, it's only a buyer market for those who can afford to buy, and others have backed out because of concerns about economic stability.

Buyers may have more leverage in Austin, Texas, where there are an estimated 114% more sellers than buyers. Other hot buyer markets include Nashville, Tennessee, and Florida's Fort Lauderdale and West Palm Beach.

Texas and Florida builders have been especially active, which is another factor that's shaping market conditions in these states. In addition, Florida is struggling with a forecast that includes more natural disasters, soaring insurance premiums and rising condo HOA fees. Many who are selling and departing Florida have mentioned these problems as their incentive to leave.
 

Luxury Home Buyers Head to Florida

Last year, the Florida real estate market set several records, including one that proved that luxury home buyers still have deep pockets. While many Florida condominium owners saw their home values decline more than other states, the state also saw some of the nation's priciest home sale transactions.

The most expensive sale was a property on Florida's famed Gordon Drive, which closed at a staggering $133 million. This property is the center parcel of one of the largest beachfront properties in the nation.

Homeowners on smaller budgets didn't do nearly as well, as the typical home in the Sunshine State went down in value by $20,444. That's a 5.1% decline, and the steepest of any state in the nation.

However, a five-year study had better news. A study that analyzed Zillow data from August 2020 through August 2025, reported that the value of an average house in Florida went up by 46.5% during those five years. So, the only buyers actually losing money are those who bought in the last few years.

Data for the 10 most expensive home sales during 2025 included four Florida properties, five in California and one in Hawaii.