"The imbalance has led to major discounts for buyers nationwide — most of whom (62%) paid below the original list price last year, according to a recent Redfin report. But California was an exception: It was home to three of the four major cities where the typical buyer paid above the list price in 2025.

Meanwhile, states like Texas and Florida — where construction has boomed in recent years — are currently home to some of the strongest buyer’s markets in the nation.

Nationally, last quarter’s 8.55-year ownership tenure was up nearly a year from the 7.67-year average in the fourth quarter of 2022, ATTOM data shows."