Where are the best markets in the country for buying and selling houses? Zillow recently ranked the top 10 markets to find out where buyers or sellers hold the most power. Zillow defines a buyer’s market as one in which “buyers have more bargaining power” because houses tend to stay on the market longer and sellers are then reducing their asking price. A seller’s market is homes are selling closer to the original asking price and move off the market faster. The top three sellers markets are San Jose, CA, San Francisco and Las Vegas. In these cities, price reductions are usually not necessary because homes will sell at or very close to their asking price. The top three buyers markets are Chicago, Milwaukee and Cleveland where homes take longer to sell and when they do, it’s at an average of 5% off the asking price.
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