Investors are seeing improving real estate markets throughout the country largely driven by a declining, and in many cases a shortage of, inventory of homes for sale. In fact, for some cities around the U.S. the real estate market is starting to go from a buyers market, where it has been for 5 years or so, to a sellers market. Zillow just released a list of what they feel are the top 10 cities that are becoming sellers markets (analyzing sale vs list price and time to sell) and MORE, REALTORS1, released a list of their top 10 cities that are becoming sellers markets based upon their Market Action Index®, an index that looks at supply and demand of housing. While there are some differences between the lists, both lists put San Francisco as the number one market for becoming a sellers market (at least at the time I wrote this…MORE’s list is real time so will change as the market changes-see below). The Zillow List of Ten Best Cities for Home Sellers:
- San Francisco
- San Diego
- Sacramento
- Las Vegas
- Los Angeles
- Orange County
- Denver
- Tucson
- Portland
- Seattle
The MORE, REALTORS Top Ten List of Cities Becoming Seller’s Markets: (real-time so it will change as the market changes)
The MAI goes from 0-60- the lower the number the colder the market. Anything from 0-30 is a buyers market, 30-60 a sellers market.
1In the interest of full disclosure, I am a broker-officer and partner in MORE, REALTORS Market Action Index® is a registered trademark of Altos Research