The US housing market sees a sharp decline in active buyers, dropping to 967,000 in July, the lowest since 2013, with buyers outnumbered by sellers by 34%. High home prices, rising mortgage rates, and economic uncertainty deter buyers. Nearly half a million more sellers than buyers create a buyer's market in 39 of 49 metros, especially in Sun Belt cities with increased homebuilding. Only six areas, mainly with limited new construction, remain seller's markets.