US Home Buyers Fade as Sellers Outnumber Them by Record 57.9%

In August, sellers in the US housing market outnumbered buyers by a record 57.9%. Mortgage rates hovering near 7% have driven many buyers away. At the same time, more households are missing loan payments, and a major mortgage lender has sunk to a record low.

For people searching for a home, a buyer's market normally brings some relief. This time around, though, the fall in demand is a sign of strained household finances, not lower home prices.

What Is Pushing US Home Buyers Out of the Market?

According to Redfin, around 1.53 million sellers were active in August, the most since early 2020.

Buyer numbers, by contrast, slipped to roughly 972,300, the lowest figure in records dating to 2013.

BREAKING 🚨: Housing Market

Home Sellers now outnumber Home Buyers by the largest margin ever recorded 🤯 👀

— Barchart (@Barchart) October 12, 2026

That is a dramatic turnaround. At the height of the pandemic-era bidding wars in early 2022, buyers led sellers by about 35%.

Much of the retreat can be traced to higher borrowing costs. On Oct. 1, the average 30-year fixed mortgage rate was 7.28%, the highest since November 2023.

Sellers are adapting. Redfin data show that 21.1% of listings carried a price reduction in the four weeks ending Sept. 20, a seasonal peak since the firm started tracking the statistic in 2022.

How Much Financial Room Do US Households Have Left?

The weakness is not confined to home sales. Around 20% of US families were behind on a loan or mortgage at some point during the past year.

The number comes from the Federal Reserve’s 2025 Survey of Consumer Finances (SCF), a survey of households carried out every three years and released Oct. 9.

In 2022, that figure was just 12%. Only the 2007 survey, conducted before the Global Financial Crisis, was higher, at 21%.

Serious delinquency also moved up. Roughly 8% of families were 60 or more days late, a mark matching the post-crisis high from 2010.

Debt service has become more burdensome too. The Fed reports that 8.6% of families now channel more than 40% of income into debt payments, versus 6.5% previously.

What Does UWM’s Record Low Mean for Mortgage Lenders?

US real estate stocks are showing the pressure as well, and mortgage lenders have not been spared. UWM Holdings (UWMC), the parent company of United Wholesale Mortgage, finished at $1.08 on Oct. 9, an all-time closing low.

By dollar volume, UWM was the largest mortgage lender in the US in 2025, with $164.3 billion in originations. That total is based on Home Mortgage Disclosure Act (HMDA) data, the federal loan-level reporting system.

BREAKING 🚨: Housing Market

The largest mortgage lender in the United States, United Wholesale Mortgage, just fell to its lowest closing price in history and is on track for its 9th consecutive red month, its longest losing streak in history 📉 👀 😱

— Barchart (@Barchart) October 11, 2026

The stock is down roughly 82% from its January high of $6.15 and is tracking toward a ninth monthly loss in a row, which would be its longest losing streak on record.

The decline gathered momentum in August. UWM booked a $451.9 million loss in the second quarter after a $603 million hedging hit.

That hedge was connected to a failed bid for Two Harbors, a firm that manages mortgage servicing investments. UWM subsequently suspended its dividend and arranged as much as $2.05 billion in fresh capital.

The company’s $400 million rights offering, open until Nov. 12, will issue new shares at no less than $2, or nearly twice the current price.

Last week, Keefe, Bruyette & Woods lowered its recommendation on the stock and cut its price target to $1.50. On the same day, UWM dropped minimum credit score requirements on Fannie Mae, Freddie Mac, and Ginnie Mae loans.

Viewed together, record supply, rising delinquencies, and a weakening lender suggest stress is compounding in the market. The New York Fed’s third-quarter household debt report, due in early November, will show whether delinquencies are still climbing.