The wonks over at Zillow Research just released their top 10 buyer and seller markets for spring 2014.
No major surprises here. Major bargains are still available in the northeast. In fact, I have a friend in Ferndale, MI ( a suburb of Detroit) who's getting married this year and she and her fiance joked that they want to put a house on their wedding registry.
I told her I'd buy her a house in Detroit as a wedding gift. They're that cheap!
I'm evaluating cities right now to launch a new wholesaling business in and I can tell you that two of the cities I'm looking at are on this list.
A few surprises to me on this list. Most notably, the city I live in, Denver, CO. I know things have been tight here for buyers and investors but it must be even tighter than I thought.
According to this analysis, a sellers’ market is not necessarily one where home values are rising, but rather one in which homes are on the market for a shorter time, price cuts occur less frequently and homes are sold at prices very close to (or greater than) their last listing price.
In buyers’ markets, homes for sale stay on the market longer, price cuts occur more frequently and homes are sold for less relative to their listing price.
What do you think? Agree or disagree?