Buyers are Winning: Negotiating Power Soars in the September 2025 Housing Market

Source Note: This analysis is based on key findings from the Redfin Buyers vs. Sellers report for September 2025.

The U.S. housing market continues to find a delicate balance, with September data revealing a significant advantage for homebuyers, though historical data still suggests overall sales activity is subdued. The primary narrative for the month is the lowest-ever home turnover rate coupled with a major shift in negotiating power.

1. Why is Home Turnover So Low?

The low turnover rate—meaning the total percentage of housing stock that sells—is the strongest evidence of a frozen market. The main drivers for this include:

• Affordability Crunch: Buyers are struggling with the combination of near-record home prices and high interest rates, leading to a rise in canceled contracts.
  
  
• The Reluctant Seller: Homeowners who secured low rates in recent years are unwilling to trade that financial advantage for a new house at a much higher cost of borrowing. This has pushed the rate of newly listed homes down, maintaining a floor on prices despite weak demand.
  
  

2. The Buyer's New Advantage

Despite the overall slow activity, conditions for active buyers have not been this favorable in years. With fewer buyers competing, we are seeing:

• Widespread Price Cuts: A significantly higher percentage of sellers are dropping their asking price compared to previous years, reflecting a shift in pricing expectations.
  
  
• More Time to Decide: Homes are lingering on the market for an increasing number of days, allowing buyers more time for due diligence, inspections, and negotiating favorable terms.
  
  
• Sellers Accepting Concessions: Buyers are increasingly successful in negotiating for repairs, closing cost credits, and price reductions.
  
  

3. Where is the Market Headed?

Economists suggest the market will likely remain defined by caution until there is a clear change in either affordability or economic stability. The current situation places the power in the hands of the cautious, well-qualified buyer who is ready to negotiate, especially in markets where inventory growth is most pronounced.


Source: Katz, L. (2025). "Austin, TX Is America’s Strongest Buyer’s Market, With Over Twice as Many Home Sellers as Buyers". Retrieved from Redfin News. https://www.redfin.com/news/buyers-vs-sellers-september-2025/?utm_term=atxtoday&utm_campaign=daily-newsletter&utm_medium=newsletter&utm_source=atxtoday&utm_content=atxtoday