Long Island and New Jersey suburbs emerge as top U.S. seller’s markets, Redfin finds

Redfin’s latest market report identifies the suburbs surrounding New York City as the nation’s strongest seller’s markets, based on July figures that show a significant imbalance between demand and supply. Nassau and Suffolk counties on Long Island top the list with 36.2% fewer sellers than buyers, while northern New Jersey counties record a 20.7% gap and central New Jersey counties rank fifth. The firm also notes seller’s markets in the Providence, Rhode Island area (16.7% gap), the Milwaukee, Wisconsin region (15.1% gap), and around Philadelphia, Pennsylvania (12.8% gap).

In contrast, 39 of the 49 largest U.S. metropolitan areas are buyer’s markets, and Utah is singled out as favorable for purchasers. The analysis reflects broader trends of high prices and mortgage rates tempering sales nationwide, even as demand near the Big Apple stays robust.