Buyers Dominate Eastern Markets

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February 15, 2017

Based on how long homes stay on the market and the percentages of homes with price cuts, nine of the top 10 markets for homebuyers are east of the Mississippi River, according to Business Insider.

Data from Zillow reveal that cities such as Baltimore, Chicago, Miami, and Philadelphia have large shares of houses that have been on the market for more than 100 days. Also, more than 10 percent of listings in each city has had a price cut.

Other cities on the list include Detroit, Indianapolis, Orlando, and Houston, the only city not in the East. On the flip side, the eight best markets for sellers are all out west.

Zillow Chief Economist Dr. Svenja Gudell said in a statement accompanying the data that "a number of markets nationwide continue to struggle with slower job growth, weaker home value appreciation and higher rates of negative equity, giving buyers more negotiating power."

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