Realtor.com Market Clock moves to 4 o'clock as more metros tilt toward buyers
The Q3 2026 report counts 27 seller's markets, 49 balanced and loosening, 17 buyer's and 6 balanced and tightening among 99 metros. Realtor.com says buyer leverage is not the same as affordability.
By Scott Baker · 3 min read
The national Realtor.com Market Clock moved to 4 o'clock in its third quarter 2026 report, a late balanced market that is loosening toward buyers, from 3 o'clock last quarter. The report, written by Realtor.com economist Jake Krimmel, was published Monday, Oct. 19. It uses the October 2026 clock reading, which Realtor.com says combines inventory data with recorded transactions and sales projections based on contract activity through September. Realtor.com Market Clock report.
That national reading is not an outright buyer's market. Realtor.com describes it as balanced and moving in buyers' direction, with wide differences from metro to metro.
How the 99 metros split
The clock normally covers the 100 largest metros. This quarter Jackson, Miss., was withheld because of a county-level gap in transaction records, so the counts cover 99 metros. Realtor.com also restated earlier readings under its revised method, so some past values may differ slightly from the first and second quarter reports.
Through the latest reading, Realtor.com counted 27 seller's markets, 49 balanced and loosening markets, 17 buyer's markets and 6 balanced and tightening markets. No single group holds a majority. About two-thirds of metros, 66 of 99, either favor buyers outright or are moving that way.
Realtor.com Market Clock, October 2026 reading
| Quadrant | Metros |
|---|---|
| Seller's markets | 27 |
| Balanced and loosening | 49 |
| Buyer's markets | 17 |
| Balanced and tightening | 6 |
Over the past 12 months, outright seller's markets fell from 39 to 27 and outright buyer's markets rose from 13 to 17, according to the report. Regionally, the Midwest accounts for 16 of the 27 seller's markets, the South holds 14 of the 17 buyer's markets and the Northeast is home to 5 of the 6 balanced and tightening markets.
Leverage is not the same as affordability
Realtor.com stresses that buyers gaining negotiating room does not mean homes are getting cheaper to finance. The report notes that rates climbed past 7% in late September. It also expects higher rates to keep the clock moving toward buyers next quarter. That is a forecast, not a measured result. The rate figures in the report are weekly survey averages from earlier dates, not today's market quotes, and they say nothing about the rate an individual borrower will be offered.
Realtor.com also distributed a press release on the report the same day.
What it means for borrowers and loan officers
In loosening markets, buyers may find more inventory and more room to ask for price reductions, repairs or seller credits. Those gains are local, so a buyer in a Midwest seller's market may see little of it. Loan officers can help clients separate the two questions the report raises: how much leverage they have with a seller, and how much payment they can carry at current rates. A seller credit can help with closing costs, but program limits on interested-party contributions still apply.
Realtor.com chief economist Danielle Hale also discussed the report at the start of the company's weekly housing video, "Who Holds the Upper Hand in the Housing Market Right Now?" on YouTube, a 10-minute briefing that also covers other housing news.
Watch: the clock in 15 seconds
Film transcript: Realtor.com national Market Clock: 4 o'clock, a late balanced market moving toward buyers, from 3 o'clock last quarter. Not an outright national buyer's market. October 2026 reading for 99 metros: 27 seller's markets, 49 balanced and loosening, 17 buyer's markets, 6 balanced and tightening; no group holds a majority. Over the past year, seller's markets fell from 39 to 27 and buyer's markets rose from 13 to 17. Midwest: 16 of 27 seller's markets. South: 14 of 17 buyer's markets. Northeast: 5 of 6 balanced and tightening. More leverage at the table is not lower borrowing cost. Music: original instrumental score made for this film.
Cover: native mortgage.news graphic of the national Market Clock reading, drawn from the Realtor.com report. It is not a Realtor.com image.