Zillow is reporting this week that a limited U.S. housing inventory and rapid price appreciation have kept sellers firmly in the driver's seat for several years as the United States recovered from the housing market collapse in 2008. Now, buyers are gaining more negotiating power as the housing market slows, especially in some of the nation's hottest markets.
According to Zillow's Buyer-Seller Index, in 20 of the 35 largest U.S. metros, market conditions favor buyers more than they did a year ago. The index is based on the share of listings with a price cut, how long it takes to sell a home, and the sale-to-list price ratio. By comparing each metro across time, this analysis shows whether the market is cooler (favoring buyers) or hotter (favoring sellers) than it was in the past.
