Real Estate Statistics Determine Top 10 Sellers Markets: 5 Markets Located in California

This post comes to us from the Showing Suite blog:

With home prices being at record lows in most of the country, it is refreshing to see more real estate markets beginning to progress back in favor of home sellers. In these markets, home sellers are more likely to sell their home for close to the asking price and spend less time on the market. Zillow recently released a market report based on May 2012 real estate statistics which analyzed several sets of data to determine whether buyers or sellers had the advantage in a given real estate market. The report revealed that five out of the ten markets where sellers have the upper-hand are located in California. Surprisingly, only one out of the ten markets are located on the east coast.

Take a look at the top ten real estate sellers markets:

1. San Jose, California

2. San Francisco, California

3. Las Vegas, Nevada

4. Sacramento, California

5. Phoenix, Arizona

6. Riverside, California

7. Washington, DC

8. Los Angeles, California

9. Salt Lake City, Utah

10. Austin, Texas

On the other hand, Zillow's report also revealed the top ten buyers markets (Chicago, Milwaukee, Cleveland, New York, Philadelphia, Jacksonville, Providence, Cincinnati, Hartford and Houston). In this case, nine out of ten buyers markets are all located in the eastern region of the United States.

Do you find these real estate statistics surprising? Why are so many home buyers flocking to the southwest?

To view the original article, visit the Showing Suite blog.