Sunbelt cities that surged during the pandemic have become strong buyer's markets, with sellers outnumbering buyers about 2 to 1 in Miami, Nashville, and major Texas metros. Nationally, sellers exceeded buyers by 48.5% in June, offering buyers leverage on price and concessions. High homebuilding, rising mortgage rates, and affordability challenges drive this shift. In contrast, Northeast markets face tight inventory due to limited construction and low mortgage rates.