South Florida millennials, it’s time to bust open those piggy banks because the generational struggle of buying a home may be dissipating into an attainable goal. Real estate experts at Redfin are seeing one of the strongest buyer’s markets on record, ranking three South Florida cities among the best buyer’s markets in the nation.
According to data collected by Redfin, there were an estimated 47 percent more home sellers than buyers in the U.S. housing market in December — or 631,535 more, in numerical terms — the largest gap between sellers and buyers in data dating back to 2013. A buyer’s market occurs when the number of available homes exceeds the number of buyers, creating an ample supply for buyers and (typically) forcing sellers to lower prices to make their homes stand out amid the surplus.
By that definition, the U.S. has been in a buyer’s market since May 2024. And South Florida cities have topped the buyer’s market leaderboards for months, with Fort Lauderdale, Miami, and West Palm Beach making appearances in the latest top ten…