Zillow (Z) released its list of the top sellers’ and buyers’ markets in the U.S. Tuesday. California bounced back as one of the harder hit markets and is now one of the top sellers’ markets in the nation.
However, Chicago stole the show as the best real estate market for homebuyers. In July, Zillow also named Chicago one of the best buyers’ markets in the nation’s 30 largest metropolitan areas.
“Its ranking as the top buyers' market means properties in the Chicago area stay on the market longer, with more frequent price cuts and sell for less than their listing price, all factors that give prospective buyers more power at the negotiating table,” reported the Chicago Tribune.
In November, Zillow identified Chicago as the only market of 30 it follows that experienced month-over-month home value declines in October.
To read the full article from the Tribune, click here.