Flickr/jthetzel
Housing markets in the eastern part of the United States continue to lag those out west. Data released on Tuesday by brokerage firm Zillow showed nine of the top 10 US markets controlled by buyers are located east of the Mississippi River. Additionally, three of the markets are within the state of Florida.
Zillow Chief Economist Dr. Svenja Gudell said in a statement accompanying the data that “a number of markets nationwide continue to struggle with slower job growth, weaker home value appreciation and higher rates of negative equity, giving buyers more negotiating power.”
Here’s a look at the 10 US housing markets most controlled by buyers, based on how long houses stay on the market and the percentage of houses with price cuts.
10. Washington, DC
Flickr / www.GlynLowe.com
Days homes are listed on Zillow: 84
Percent of listings with price cut: 11.3%
Source: Zillow
9. Orlando, FL
iStock / Sean Pavone
Days homes are listed on Zillow: 89
Percent of listings with price cut: 10.6%
Source: Zillow
8. Tampa, FL
Shutterstock/Sean Pavone
Days homes are listed on Zillow: 83
Percent of listings with price cut: 13.3%
Source: Zillow
See the rest of the story at Business Insider
