Now that the pace of home price appreciation is finally starting to slow, it is easier to see the truth behind which local markets favor either buyers or sellers.
According to the latest Zillow (Z) home value index, prices increased to $175,600 in August, up 6.6% year-over-year, the slowest annual pace in the last 12 months.
And through August 2015, home values are expected to rise another 3.1%.
“Real estate has always been local, but as we continue to put the housing recession further in the rearview mirror, the largely uniform performance of local markets is also fading,” said Zillow Chief Economist Stan Humphries.
“We now have several different types of markets emerging, including markets that are still muddling along the bottom; markets that shot up immediately after the recession ended and are now cooling quickly; and markets that are still very hot. Each of these environments presents unique challenges and opportunities for buyers and sellers, and what works in one area won’t necessarily work in another,” Humphries added.
Click the next page to see the top ten seller markets.
Sneak peak: the Golden state rules the list, with the West Coast continuing to favor sellers with quick sales and high asking prices.
Top 10 seller markets
10. Sacramento, California
9. Nashville, Tennessee
8. Los Angeles, California
7. Las Vegas, California
6. Riverside, California
5. Denver, Colorado
4. Dallas-Fort Worth, Texas
3. Seattle, Washington
2. San Francisco, California
1. San Jose
Read further to see the top ten buyer markets. Sneak Preview: Top buyer markets gravitate around the Northeast and Midwest, which offer the most favorable conditions, as buyers are less likely to be faced with the fierce bidding wars.
Top 10 buyer markets
10. Jacksonville, Florida
9. Cincinnati, Ohio
8. New York, Northern New Jersey
7. Tampa, Florida
6. Pittsburgh, Pennsylvania
5. Chicago, Illinois
4. Milwaukee, Wisconsin
3. Philadelphia, Pennsylvania
2. Cleveland, Ohio
1. Providence, Rhode Island
