SEATTLE – inside market for home? New construction and rebounding inventories are helping to shift more markets in favor of buyers in the South and several other parts of the United States.

Latest market report from Zillow He notes that competition across the country is “getting closer to being a buyer’s market” as activity dwindles for the winter.

FILE – A “for sale” sign in front of a home in West Islip, New York, on December 13, 2023. (Photo: Steve Pfost/Newsday RM via Getty Images)

“As we approach the usual winter slowdown, we see competition among buyers waning, with mortgage interest rates climbing toward 7 percent,” Skylar Olsen, Zillow’s chief economist, said in a statement. he said.

“Inventory is still slowly increasing and price cuts are still relatively common; persistent buyers can find a deal or negotiate significant concessions,” Olsen added.

This is where the market currently favors buyers

With the current climate of persistently high home prices and mortgages, Zillow said competition among buyers has a lot to do with available inventory.

On Wednesday, Zillow shared where buyers currently have an advantage in various U.S. housing markets. The real estate platform said each of the 13 major buyers-friendly markets ranked among the top 20 nationwide for inventory recovery compared to pre-pandemic levels.

The most obvious is that buyers are generally preferred at the moment. Texas, Florida And new orleans metrosaid Zillow.

He added: pittsburgh And louisville In October, 11 more major metropolises joined, where buyers have an advantage in negotiations. In September, Indianapolis, Nashville And of Atlanta Zillow said this has become a buyer’s market.

Zillow’s report noted that less competition also means softer home value appreciation. Monthly declines in home values ​​were greatest in Austin, Dallas, Atlanta, Tampa and San Antonio.

• Miami, Florida
• Atlanta, Georgia
• Tampa, FL
• Orlando, FL
• San Antonio, Texas
• Pittsburgh, Pennsylvania
• Austin, Texas
• Indianapolis, IN
• Nashville, Tennessee
• Jacksonville, Florida
• Memphis, Tennessee
• Louisville, KY
• New Orleans, Los Angeles