A recent report from Zillow says home values rose in half of the nation’s largest markets over the past year, while falling in the other half. Their latest market report says buyers are gaining leverage across the country and sellers cutting prices at record rates to compete – but they say they’re losing the war on affordability. They say it all comes down to where you live:
“Perhaps more than ever, whether it’s a good time to buy depends on where you live…A defining trait of this market is that buyers are gaining leverage that most of them can’t use, because cost barriers are too high. Buyers forced to the sidelines means less competition for those who can still afford it. Affordability is gradually improving where builders have been able to keep up with demand, showing why continuing to build is so critical. It’s not just about giving buyers power, it’s enabling them to use it.”
Click here to read the full report at Zillow.
