Expert says buyers have the upper hand in 10 U.S. housing markets where they can negotiate effectively.

Purchasing a house in the current real estate market presents challenges, as home prices are steadily increasing and mortgage rates remain unstable.

Despite the challenges, some metro areas in the US are welcoming homebuyers this year. Realtor.com's latest report reveals the easiest and hardest housing markets for buyers this month.

• Year-over-year shift in median list price
• Year-over-year shift in the share of listings that saw price reduction
• Year-over-year shift in active listing count
• Median days on the market
• Change in active listings levels between July 2019 and July 2024

In Realtor.com's report, Florida's housing markets dominated, with nine out of the top 10 being located in the Sunshine State.

"According to Realtor.com's economist, Hannah Jones, buyers in the simplest markets are typically slower to move as supply exceeds demand. In these markets, prices and competition increased significantly during the early days of the pandemic. However, the combination of high prices and rising mortgage rates eventually slowed demand, resulting in an increase in inventory."

Buyers have the most power in: Lubbock, Texas

Median home list price: $253,500

Median days on the market: 55

The metro area with the greatest buyer's power is Lubbock, Texas.

Jones states that sellers have lowered prices in response, indicating that buyers have a strong negotiating position.

Lubbock, Texas, is renowned for its musical heritage, particularly in country and rock music, with Buddy Holly and Mac Davis being notable figures associated with the city.

10 U.S. housing markets where buyers have the most power right now

1. Lubbock, Texas
2. Punta Gorda, Fla.
3. Lakeland, Fla.
4. Crestview, Fla.
5. Tampa, Fla.
6. North Port, Fla.
7. Miami, Fla.
8. Port St. Lucie, Fla.
9. Gainesville, Fla.
10. Orlando, Fla.

Punta Gorda, Florida, is currently ranked as the No. 2 housing market where buyers have the most power, with a median home list price of $425,000 and a median of 90 days on the market, according to Realtor.com's report.

Punta Gorda, Florida, is experiencing "price corrections" following a "housing boom" due to overheating.

Punta Gorda, also known as "Fat Point" in Spanish, is named for its location as a protruding point that extends into Charlotte Harbor, one of the largest natural harbors in the U.S.

Centrally situated between Sarasota and Fort Myers, Punta Gorda is easily accessible from Tampa, Orlando, and Miami, all within a three-hour drive.

Punta Gorda, a Florida city, is renowned for its water recreation activities, such as sailing and yachting, due to its location along the Peace River where it meets Charlotte Harbor. Additionally, it is recognized as one of the top sport-fishing destinations, according to the Visit Florida website.

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