Home sellers now outnumber buyers by nearly 500,000, signaling a shift toward a buyer's market. The total value of homes listed hit a record $698 billion, with many listings considered "stale" after 60+ days. High mortgage rates previously kept sellers locked in, but life events are prompting more to sell despite rates near 6-7%. Rising inventory and weakened demand may push home prices down about 1% this year, improving affordability.