At a time when real estate inventory is falling in most cities across the country, it appears to be rising in Philadelphia. The number of Philly homes listed for sale on Realtor.com has increased over the last year or so. This puts the City of Brotherly Love in a class all by itself.
Home buyers in San Jose, California should be prepared for some stiff competition. This housing market is heating up. In fact, the city had the fifth-largest increase in sales price, of any city in the entire country. Additionally, there are fewer properties for sale this year compared to last, and growing demand. Does that make San Jose a seller’s market? Pretty much.
We can look at the median length of time homes are listed for sale to get a sense of how ‘fast’ or how ‘slow’ a particular market is. This metric is referred to as median days on market, or DOM. And as it turns out, the state of Florida has some of the slowest real estate markets in the country. It’s tough to be a seller in these areas.
Home prices are rising across the United States. Slowly but surely, the national housing market is gaining ground again. But it’s happening faster in some cities than others. In this article, we looked at the five cities where list prices have risen the most, over the last year. Three of the four are located within in California.
Dallas wasn’t affected by the housing collapse as much as other metro areas like Las Vegas and Phoenix. The same could be said for most of Texas, actually. Nevertheless, we have seen some modest price gains in the DFW area, over the last few months. What can we expect in 2013? Probably more of the same.
According to a recent report, home prices in Cleveland rose again in June. Sales has activity has also risen in recent months. But by and large, Cleveland is still a buyers’ market. This is largely due to an abundance of housing inventory, in relation to demand. The question is, will the status quo continue into 2013, or will sellers finally gain some leverage at the bargaining table?
The number of homes for sale in Oakland, California has declined by an astonishing 58%, according to the latest data provided by Realtor.com. This is largely the work of investors. First-time buyers, who often purchase homes at the lower end of the pricing spectrum, are facing stiff competition from these investors. These and other trends will likely push prices higher as we move into 2013.
According to MetroDepth, homes appear to be selling faster in Denver, Colorado these days. The report examined data from Realtor.com, which showed that Denver had the second-lowest median age of inventory of any metro area in the United States. This would suggest that the city has a fairly active housing market, with properties selling much quicker than the national average.