Study on current trends in the overall housing market

    Newcomers shoot up values in several markets, but prices are predicted to be cool during the next few years. In San Francisco, owning a home involves more problems, whereas selling includes not even one.

    Among the problems faced while owning a median home values in San Francisco that are really high among the country topping $800,000 as per research conducted by Zillow. The city is foggy and cold during the summer and may require that homeowner must keep their ear to the ground to know the outcome of earthquakes anytime.

    real estate market

    But in case of selling a home, San Francisco is the best place among the country. As per Zillow, in San Francisco homes are listed at an average for 51 days and out of which approximately 5.4% take price cuts and thus making it the ideal market for sellers during 2016. The top markets for purchasing have the opposite scenario, greater price cuts that are listed for more days.

    Look at a glance at the top 10 real estate markets for buying and selling.

    Top 10 Seller’s Market are listed below

    • San Francisco , CA
    • San Jose, CA
    • Denver, CO
    • Seattle, WA
    • Sacramento, CA
    • Portland, OR
    • Los Angeles, CA
    • San Diego, CA
    • Charlotte, NC
    • Boston, MA

    Top 10 Buyer’s markets

    • Baltimore, MD
    • Miami, FL
    • Philadelphia, PA
    • Chicago, IL
    • Houston, TX
    • Indianapolis, IN
    • Detroit, MI
    • Tampa, FL
    • Orlando, FL
    • Washington, DC

    Several of the metros on the top selling market list above have experienced vast arrivals of newcomers, sending home prices into the stratosphere. Portland experienced the fastest escalating home value during 2016 to an extent of 13.8%

    real estate

    Out of 10 top buyer’s markets six of them have slower appreciating value when compared to the national average, which was 6.8% during 2016. For an instance, during 2016, home values in Baltimore rose less than four percent.

    Even home inventories have a key role to play in the increase of home value. Markets with many homes go on the market. For an example, compared to previous years, in December 2016, there was nearly 14.6% increase in the home listings in Miami.

    Still, Boston, which lies in the tenth place as per the above top selling market list had experienced a 21.6% down in listing inventory when compared to the previous year.

    Take heart if you wish to purchase in a hot market. Most experts’ states that they predicts that the overall housing market will switch over from a seller’s market to a buyer’s market during 2018 or 2019 due to the market will begin to slow.

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