03:47 PM EDT, 10/22/2025 (MT Newswires) -- US home sellers outnumbered buyers by a near-record percentage in September, while home-buying contract cancellations rose year over year, two reports by Redfin showed Wednesday.

There were an estimated 36.7% more home sellers than buyers in September, giving buyers increased negotiating power. In records dating back to 2013, the June of this year was the only month when sellers outnumbered buyers by a higher percentage, at 36.9%, the data provider said.

"Some sellers are retreating because they don't want to sell in a market where demand is low and buyers hold the negotiating power," Redfin said. "Still, the buyer-seller gap remains nearly as large as ever -- especially in places that have been building a lot of homes, like Florida and Texas."

Overall, 35 of the 50 most populous US metros were buyer's markets last month, while five were seller's. The remaining 10 were deemed balanced markets. The buyer's markets are concentrated in the Sun Belt, according to the report.

On an annual basis, home prices increased 3.8% across the seller's markets last month versus a 1.3% increase in the buyer's markets.

A separate report by Redfin showed that 15% of homebuying contracts were canceled last month, marking a gain from 13.6% a year earlier.

"Housing costs are frightful and economic jitters are in the air, leading some buyers to leave sellers in the lurch," the report said.

Buyers ghosted sellers at a higher rate mostly in Florida and Texas, according to the report.

"Buyers are ghosting sellers at a fairly high rate nationwide, mainly because each party has different expectations for the deal, and aren't willing to compromise," Redfin said. "That's especially true when it comes to concessions and repairs, leading to a growing number of deals falling through."

On Monday, a report by real estate marketplace Zillow Group ( ZG ) (Z, ZG) showed that housing activity in the US was "unseasonably resilient" last month.

Price: 77.48, Change: +0.15, Percent Change: +0.20