Singapore's HDB resale market is showing signs of becoming more balanced in 2026.
Data from RealInsight shows that transacted prices have largely moved between S$640 and S$660 PSF over the past year, with gains often followed by pullbacks.
At the same time, resale transaction volumes remain relatively healthy.
So, is Singapore becoming a buyer's market?
Not quite - but buyers may have more room to compare, negotiate and walk away from overpriced homes.
HDB Prices Are Moving Sideways
RealInsight data shows that monthly HDB transacted PSF has fluctuated within a relatively narrow range rather than moving consistently higher.
From July 2025 to May 2026, HDB transacted PSF generally moved within a narrow S$640–S$660 range. Based on the rounded figures from RealInsight, the average month-on-month movement was about 0.9% in absolute terms. In months where prices actually changed, the movement was typically around 1.5% up or down.
Overall, PSF started and ended the period at about S$650, suggesting that prices remained largely stable, with only minor month-to-month changes and no clear upward or downward trend.
Graph: Monthly HDB transacted PSF from July 2025 to July 2026. Source: RealInsight.
Note: Month-on-month percentage changes are calculated from the rounded PSF figures displayed by RealInsight and are approximate.
Buyers Are Still Active
Stable prices have not been accompanied by weak transaction activity.
RealInsight recorded approximately 2,240 HDB resale transactions in June 2026. Activity then rebounded 14.8% month-on-month to approximately 2,570 transactions in July 2026 - the highest monthly volume in the period shown and 5.6% higher than the approximately 2,440 transactions recorded in July 2025.
Transaction activity remained relatively healthy during the first seven months of 2026, staying above 2,000 transactions in every month except February, when volume dipped to approximately 1,810. Transactions subsequently recovered to approximately 2,530 in May, declined 11.4% in June, and rose sharply again in July.
This suggests buyers are still willing to transact, even while prices have stopped moving consistently upwards.
In other words, a flatter price environment does not necessarily mean weak demand.
Graph: Monthly HDB resale transactions from July 2025 to July 2026. Source: RealInsight.
So, Is This a Buyer's Market?
The data points more towards a balanced market than a true buyer's market.
Prices are no longer showing uninterrupted upward momentum, which can reduce the pressure on buyers to rush into a purchase.
When comparable properties are available, buyers may have more time to assess asking prices, check recent transactions and negotiate where a seller's expectations appear too high.
However, individual flats can still behave very differently.
Homes near MRT stations, popular schools and major amenities may continue to command premiums. Remaining lease, floor level, renovation condition and flat type can also create significant price differences within the same estate.
Buyers can compare current HDB listings on RealAgent with market information from RealInsight to understand whether an asking price is broadly in line with surrounding properties.
What Should Home Buyers Do Now?
In a sideways market, property-level value matters more than headline price movements.
Before making an offer, buyers can use RealAgent's RealValue instant valuation tool to estimate a property's value based on comparable homes and surrounding market information.
If an asking price sits significantly above nearby comparable properties, buyers may have stronger grounds to negotiate - or continue searching.
The opportunity in 2026 may therefore be less about waiting for prices to fall dramatically and more about having greater choice and less pressure to chase rising prices.
What Does This Mean for Home Sellers?
For sellers, realistic pricing is becoming increasingly important.
When market prices are moving sideways and buyers have alternatives, an aggressively priced flat may lose attention to comparable homes nearby.
Sellers should therefore look closely at recent transactions, similar listings in the same estate, remaining lease, floor level and unit condition before setting an asking price.
Using current market data from RealInsight together with comparable listings on RealAgent can help sellers understand where their property sits within the wider market and price it more competitively.
Disclaimer: Data used in this article is accurate as of 24 August 2026.
