In Miami, homebuyers have the biggest advantage. There, 24.2% of home listings are seeing price cuts.
As the spring housing market picks up, more potential buyers are heading to the housing market. According to National Mortgage Professional, which cites data from housing market platform Zillow, cities where buyers have the largest advantage include Miami, New Orleans, and Jacksonville, Fla. However, in some cities—such as Buffalo, N.Y., San Jose, Calif., and San Francisco—sellers still hold the advantage, keeping competition and prices high.
“While affordability remains incredibly challenging, the housing market is improving for buyers nationally,” said Zillow® Senior Economist Orphe Divounguy. “Some of the strongest buyers markets are in the Southeast, where builders have been able to keep up with demand. Sellers are still in the driver’s seat in the Northeast and in Northern California, where buyers are competing for the few homes that are available.”Read more
