Florida and Texas are drowning in 'For Sale' signs, and Miami is deepest

Miami was the strongest buyer’s market among the 10 leading U.S. metropolitan areas in September, with home sellers outnumbering buyers by 158.9%, according to Redfin data shared by Charlie Bilello.

Miami had 18.9K home sellers compared with 7.3K buyers, the largest percentage gap in the ranking. Nashville, Tennessee, followed, with sellers outnumbering buyers by 152.3%, while Houston, Texas, ranked third at 134.6%.

Nashville had 18.1K sellers and 7.2K buyers, while Houston recorded 47.5K sellers against 20,230 buyers. Although Houston had the largest number of sellers among the 10 markets, Miami had the widest relative gap between sellers and buyers.

Austin, Texas, ranked fourth, with sellers exceeding buyers by 130.9%. The city had 18.1K sellers and 7.8K buyers. San Antonio, Texas, came fifth at 125.6%, with 19.2K sellers and 8.5K buyers.

Las Vegas ranked sixth, with sellers outnumbering buyers by 125.5%. The market had 14.2K sellers compared with 6.3K buyers, putting it just behind San Antonio in the ranking.

Orlando, Florida, placed seventh, with a 123% gap between sellers and buyers. It recorded 20.1K sellers and 9K buyers. Dallas, Texas, followed in eighth place, with sellers outnumbering buyers by 121.9%, as there were 31.4K sellers compared with 14.2K buyers.

Fort Lauderdale, Florida, ranked ninth, with sellers exceeding buyers by 117.8%. The city had 17.8K sellers and 8.2K buyers. Atlanta, Georgia, rounded out the top 10, with a 110.4% gap, recording 41.5K sellers against 19.1K buyers.

The September ranking was dominated by Sun Belt markets, with three cities in Florida and four in Texas. Miami led the group by a margin of more than 6 percentage points over Nashville, while Atlanta had the smallest seller-to-buyer gap among the 10 markets, at 110.4%.

The figures indicate that sellers substantially outnumbered buyers in each of the 10 markets, with the gap ranging from 110.4% in Atlanta to 158.9% in Miami. The ranking is based on the percentage by which home sellers outnumbered buyers, rather than the absolute number of homes listed for sale.