U.S. HOME SELLERS OUTNUMBER BUYERS BY RECORD 58%

The U.S. housing market just posted its widest buyer-seller gap on record. Redfin counted 1.53 million sellers against only 972,300 buyers in August, a 57.9% surplus that jumped from 52.1% in July. Seller counts rose 3.9% month over month, the sharpest increase in Redfin's data since 2013, while buyer demand barely moved. Homebuilders like $ITB now face a market where listings pile up and mortgage rates near 7% keep buyers on the sidelines.