![Is It Still a Seller's Market? Here's What the Data Says. Remember a few years back when sellers held all the power and buyers were stuck offering way over asking or waiving inspections just to get a chance at the house? In many markets, those days are behind us. While it’s going to vary by area, more metros are slowly shifting to favor buyers, and the market is starting to look a lot more like a two-way street again. And that balance is something we haven’t had in a while. Whether you're buying or selling, here's what you need to know about what's changing and what it means for your move. The Most Buyer-Friendly Market in YearsThe national data tells an interesting story right now. According to Realtor.com: "The national housing market is balanced but gradually loosening as the cycle moves in a more buyer-friendly direction . . ." That’s because, over the past few years, more and more metros have been flipping back to more buyer-friendly terms as inventory’s grown. And when you zoom in on the latest Realtor.com data for the top 50 metro markets over time, the trend becomes really clear (see graph below). Back in 2021, almost all major metros were seller's markets. By the end of 2025, only 1 in 3 still favored sellers. That's an obvious shift. And that changes how the market is going to feel for everyone. Sellers shouldn’t still expect 2021 conditions, but neither should buyers. At least, not generally speaking. It’s Not the Same Story EverywhereThat said, who has the power ultimately depends on where you live. While more metros are leaning buyer-friendly lately, there are still plenty of strong seller's markets right now, too. It really comes down to how much housing supply and demand there is in your area. And that varies enormously by region. Sun Belt cities like Austin, Tampa, and San Antonio saw major building booms in recent years, giving buyers more options and more negotiating room. Meanwhile, cities in the Northeast and Midwest – think Rochester, Hartford, and Buffalo – didn't see that same wave, so inventory stayed tight and competition stayed fierce. As Jeff Ostrowski, Housing Analyst at Bankrate, explains: “The formerly hot Sun Belt markets have cooled, while the Northeast and Midwest have stayed hot. The big driver here is construction activity. The softest markets now [have] experienced big booms that spurred new building, and that has led to a large supply of new and existing homes on the market in those places.” Practical Advice for Your MoveTo find out who has the power in your local market, talk to an agent. Because knowing what’s happening locally is going to be the key to setting the right strategy for your move. If the market is working in your favor, great. Lean in and use it to your benefit. But if it’s not, all hope isn’t lost. Your agent can help you figure out how to approach any market. Here's some practical advice if there’s a mismatch between your goal and local market conditions. If you're buying in a seller's market: - Get pre-approved before you start shopping. It shows sellers you're serious. - Be ready to act fast when the right home hits the market. - Consider offering a quick closing date or flexible terms. - Work closely with your agent to craft a competitive offer. If you're selling in a buyer's market: - Price it right from day one. Overpricing will cost you time and money. - Focus on curb appeal and staging to stand out in areas with more inventory. - Be open to offering incentives, like covering closing costs or a home warranty. - Expect buyers to negotiate and be ready to be flexible. Bottom LineRight now, local markets are moving in very different directions. And your strategy as a buyer or seller should reflect your market. Is It Still a Seller's Market? Here's What the Data Says.](https://alstonhomes.com/wp-content/uploads/6-18-26-218x150.png "Is It Still a Seller’s Market? Here’s What the Data Says.")
Hidden Truth About Existing Homes in Campbell
Timothy Alston | Broker
Aegis Luxury Real Estate
DRE# 01328224
Campbell, California
Small-town charm, Silicon Valley access
Many sellers in Campbell assume buyers want brand-new construction. The data says otherwise. According to the National Association of Home Builders (NAHB) Housing Trends Report, 40% of prospective buyers are specifically searching for existing homes, while only 19% want new construction. The remaining 41% are open to either. If you own an existing home, that is a significant pool of ready buyers looking for exactly what you have.
You know how it feels when you have been sitting on a decision for months, maybe longer, and you are not quite sure if the timing is right? And then you start wondering if waiting is actually costing you something? A lot of homeowners in Campbell homes for sale conversations are wrestling with exactly that right now. But here is the part most people have not stopped to think about yet: the buyers who are entering the market are not who you might expect.
So who is actually out there searching right now?
First-Time Buyers Are Driving Demand for Existing Homes
The NAHB report found that the share of first-time buyers among all prospective purchasers grew from 58% to 63% in a single year. That is not a small shift. And the generational breakdown is striking: 88% of Gen Z buyers and 78% of Millennial buyers are stepping into homeownership for the very first time.
What does that mean for you as a seller? These are buyers who are not locked into a preference for new construction finishes or builder upgrades. Many of them are drawn to character, history, and the kind of warmth that a lived-in home carries. Existing homes often deliver exactly that.
Have you ever stopped to think about what a first-time buyer is actually looking for when they walk through a front door? They are not just evaluating square footage. They are imagining a life. And that emotional connection tends to happen more naturally in existing homes than in a freshly built shell on a new development street.
What Is Your Current Home Actually Worth to This Market?
Here is a situational question worth sitting with: what does your housing situation look like right now? Are you in a home that no longer fits your needs? Have your priorities shifted, and you find yourself thinking about more space, less space, or simply a different chapter?
Campbell homeowners who list existing homes during periods of compressed inventory tend to see faster offer timelines and stronger buyer competition. When supply is limited and buyer demand is concentrated, the math tends to favor the seller.
What would it mean for your family if you could use the equity you have already built, through years of mortgage payments and appreciation, to move into something that actually fits where you are headed next? That is not a hypothetical. That is a real conversation happening in Campbell right now, and the numbers are often more favorable than sellers expect.
Can you see how the combination of first-time buyer demand and limited inventory could work in your favor?
The Hidden Cost of Waiting on Existing Home Inventory
Here is the consequence question most people avoid: what happens if nothing changes? If you stay in the same home for another three to five years, waiting for a “better” market, where does that actually leave you?
Buyers are not waiting. Showing activity among prospective purchasers has been climbing, and the appetite for existing homes is real and measurable. Every month a motivated, qualified buyer enters the market without finding a home like yours is a month that equity sits untapped and your next chapter stays on hold.
How long have you been thinking about making a move? And what is that delay actually costing you, not just financially, but in terms of where you want to be living your life?
Based on what first-time buyers are telling researchers and brokers alike, they are not just open to existing homes. They are actively prioritizing them. Charm, character, and established neighborhoods carry real value in the eyes of buyers who are purchasing for the first time. Campbell’s tree-lined streets and established communities tend to resonate deeply with that buyer profile.
Schools in Campbell
Aegis School Excellence Index · 2024-25 performance dataWhat Sellers of Existing Homes in Campbell Should Know
The NAHB data makes one thing clear: new construction is not the dominant preference. A combined 81% of prospective buyers are either specifically seeking existing homes or open to them. That is the market you are stepping into as a seller.
Mortgage rates, down payment programs, and pre-approval resources are also more accessible to first-time buyers today than many realize, which means their purchasing power is real. These are not window shoppers. They are buyers who have done their homework and are ready to make offers when the right home appears.
Does that change how you think about the timing of your decision?
If you are a seller wondering whether the details of your existing home matter, the answer is yes. Hardwood floors, mature landscaping, proximity to established neighborhoods and walkable amenities: these are not liabilities compared to new construction. For a first-time buyer stepping into homeownership, they are often the reasons a home moves to the top of the list.
Do you feel like this could be the window you have been waiting for? If so, the next step is a straightforward conversation, not a pitch, just an honest look at what your existing home might be worth in this market and what your options actually look like. Timothy Alston, licensed Broker and DRE# 01328224, is available for exactly that kind of conversation. Reach out at (408) 591-2304 and see what the numbers say for your specific situation.
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Timothy Alston
Broker | DRE# 01328224
Aegis Luxury Real Estate
Harvard Business School Online, Certified Master Negotiation
23+ Years Silicon Valley Real Estate Experience
Retired Military Veteran
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Copyright © 2026 MLSListings Inc. All rights reserved.
The data relating to real estate for sale on this display comes in part from the Internet Data Exchange program of the MLSListings™ MLS system. Real estate listings held by brokerage firms other than Aegis Luxury Real Estate are marked with the Internet Data Exchange icon and detailed information about them includes the names of the listing brokers and listing agents.
Based on information from the MLSListings MLS as of {{MLS_AS_OF_DATE}}. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
These statistics are generated using information from the MLSListings Inc. multiple listing service, but have not been verified and are not guaranteed. MLSListings Inc. disclaims any responsibility for the accuracy and reliability of these statistics. This information should not be relied upon for real estate transaction decisions.
Data updated every 15 minutes. Visit www.MLSListings.com for more information.
Information provided is for general informational purposes only. Equal Housing Opportunity. If you are currently working with a real estate agent, this is not intended as a solicitation.
Timothy Alston, Broker, DRE# 01328224, Aegis Luxury Real Estate, 10080 N. Wolfe Rd Ste SW3-200, Cupertino CA 95014. (408) 591-2304.
Last updated: May 04, 2026 | Data reflects May 2026 MLS statistics
