More U.S. real estate agents are reporting a balanced housing market as buyers regain negotiating power after years of seller dominance, according to CNBC’s second-quarter Housing Market Survey released Tuesday.

The survey found that 44% of agents now see a balanced market between buyers and sellers, up from 30% in the third quarter of 2025.

The national survey gathered responses from 53 real estate agents across the U.S. between June 23 and June 30.

A balanced housing market generally means buyers and sellers have relatively equal negotiating power, unlike the seller-driven conditions that defined much of the post-pandemic housing boom.

Sellers Become More Flexible

The findings build on recent signs that the U.S. housing market is gradually tilting toward buyers. Last month, housing market data showed a record 46% of sellers offered concessions to buyers in May as elevated mortgage rates and softer demand continued to reshape market conditions. More recently, government data showed housing starts fell to their lowest level since 2020, underscoring a slowdown in residential construction even as affordability pressures persist.

CNBC’s survey suggests sellers are increasingly adapting to those conditions. Fifty-seven percent of agents said they had at least one active listing with a price cut, down sharply from 89% in the third quarter of 2025. Agents also reported fewer contract cancellations, indicating buyers and sellers are reaching agreements more easily as asking prices better reflect current market conditions.

Existing home sales in May rose 3% from a year earlier as inventory improved and prices eased, according to the National Association of Realtors. Meanwhile, asking prices fell 2.5% year over year in June, the largest annual decline since Realtor.com began tracking the data in 2017, suggesting sellers are becoming more competitive.

Affordability Remains the Biggest Challenge

Despite the improving balance, affordability remains a major hurdle for buyers. CNBC’s survey found that mortgage rates and home prices have overtaken broader economic concerns as buyers’ biggest worries. Thirty-seven percent of agents identified mortgage rates as buyers’ primary concern, up from 26% at the end of last year. Inventory concerns, meanwhile, have eased as more homes come onto the market.

Agents were also less optimistic about the market’s near-term outlook. Only 19% expect home sales to improve over the coming months, down from 48% in the third quarter of 2025, while 67% believe sales will remain largely unchanged. The findings suggest the housing market is becoming healthier and more balanced, but high borrowing costs continue to limit a stronger recovery.

Disclaimer: This content was produced with the help of AI tools and was reviewed and published by Benzinga editors.

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