DETROIT, Mich. — Metro Detroit is operating as a buyer’s market, with home sellers outnumbering active buyers by 37.9% in September, according to brokerage Redfin’s latest tally.
Redfin counted about 7,102 sellers against 5,152 buyers in the Detroit metro that month. Nationwide, sellers topped buyers by 63%, the widest gap the firm ties to conditions last seen after the 2008 housing crash.
The brokerage said September was the fifth straight month of record seller-to-buyer margins, as active buyer counts fell to lows not seen since its tracking began in 2013 while listings climbed.
Senior economist Asad Khan described the moment as leverage born of caution, not strength: many would-be buyers are priced out or wary of the economy, which leaves shoppers who still have budget and job security freer to negotiate or walk away.
Only five of the 50 largest U.S. metros still favor sellers, Redfin said, while Sun Belt cities such as Miami and Nashville show the steepest seller surpluses. Detroit’s imbalance is milder than those Sun Belt peaks but still hands negotiating power to prepared buyers.
Section: More Detroit MI business news
