Study Reveals Top 10 Markets for Sellers

interesting article from forbes.com A new study by researchers at Zillow should help buyers and sellers understand the dynamics at play in specific markets. The analysis helps shed critical light on markets where buyers are favored and markets where sellers are in the driver’s seat. The result is an index that helps show the relative bargaining power of a buyer or seller within a given market. “There is nothing more frustrating than wanting to buy a home but being unable to through no fault of your own,’’ said Brendan DeSimone, a real estate expert. “In many markets across the country, there simply are more buyers than sellers and homes are moving quickly — sometimes for more than the asking price due to high demand and low inventory,’’ he said. Indeed, home buying is not as easy as seeing a new listing online, going to view it in person and making an offer. This is where expectations come in, and why the Zillow research comes at a good time as the spring selling season starts to heat up. “In a seller’s market the gloves come off and would-be buyers need to act fast, think outside the box and be prepared to work at the home-buying process,’’ DeSimone said. Top 10 Sellers’ Markets Those kinds of scenarios are taking place in cities like San Jose, San Francisco, San Antonio, Los Angeles, Seattle, Riverside, CA CA -3.26%, Denver, Washington, DC, Sacramento and Dallas. These are the Top 10 cities where buyers outstrip inventory and keep sales brisk. The Zillow study, released on March 18, shows that these “sellers’ markets” are characterized not by rising home values but where homes are on the market for shorter times and are less likely to get price cuts. In order, the top 10 sellers’ markets are: 1. San Jose 2. San Francisco 3. San Antonio 4. Los Angeles 5. Seattle 6. Riverside 7. Denver 8. Washington, DC 9. Sacramento 10. Dallas-Ft. Worth