Image courtesy of Redfin


Image courtesy of Redfin


The Wall Street Journal (14 June 2025) New Real-Estate Math: Half a Million More Sellers Than Buyers

ChatGPT Summary for Real Estate Photographers

The U.S. housing market is at an inflection point: listings are rising, but buyer demand remains soft. For real estate photographers, this evolving landscape presents both challenges and new business opportunities. After years of record-low inventory and intense buyer competition, April marked a turning point — with nearly 500,000 more sellers than buyers, the widest gap since 2013. But rising inventory hasn't sparked a wave of sales. Many potential buyers remain sidelined due to high prices, elevated mortgage rates (above 6.5%), and economic uncertainty.

From a service perspective, real estate photographers should note a shift in leverage. Sellers are now more likely to cut prices or offer concessions like closing cost support.

Listings may sit longer on the market, increasing sellers' motivation to invest in visual marketing — including professional photos, 3D tours, drone video, and virtual staging — to stand out.

In high-inventory markets like Miami and parts of the Southeast and Southwest, sellers are especially eager to differentiate. Meanwhile, in more competitive Northeastern cities like Newark, properties still attract multiple offers, and listing agents may seek standout visuals to drive bidding activity.

Top 10 Takeaways for Real Estate Photographers

✓ Inventory is rising — the market had 500,000 more sellers than buyers in April, the biggest gap since 2013.
✓ Despite more listings, buyer activity remains weak; April sales hit the slowest pace since 2009.
✓ Home prices are still high — up over 50% in five years — and mortgage rates remain above 6.5%.
✓ Economic uncertainty is causing buyers to hesitate; many are waiting for price drops or incentives.
✓ More sellers are offering concessions or cutting prices — increasing the need for strong visual marketing.
✓ Buyers now have the upper hand in many regions; they’re looking for deals, not bidding wars.
✓ The Miami area had nearly 3X as many sellers as buyers — an opportunity for photo-driven differentiation.
✓ Realtor sentiment suggests more price reductions and listings are coming in the next 1–2 months.
✓ Life events (job moves, growing families) are prompting more people to list, creating fresh content needs.
✓ Homebuyers like Carley and Garrett Kapelski are waiting for sellers to “wiggle,” signaling an extended sales cycle where visuals can make a difference.

What This Means for You

Real estate photographers should prepare for a period where quality visual marketing can have outsized impact. In a slower sales environment, sellers may be more open to upgrades — not just photos, but also Matterport scans, drone video, floor plans, and virtual twilight edits. With more listings and longer time on market, listing agents will be under pressure to show that they’re doing everything they can to attract attention.

Focus on markets where seller inventory exceeds buyer demand — Southeast and Southwest metros — and pitch services that help listings stand out online. On the flip side, in places like Newark or other competitive pockets, there’s still strong buyer activity — and agents there may want next-day turnaround and multiple content packages to fuel fast-moving campaigns.

In this new cycle, sellers can’t rely on market heat to do the work — that’s your opportunity to show them why visuals sell.

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Your thoughts?

Dan