Buyers in North Eastern United States are attracting the most buyer interest, led by Buffalo in New York state, Zillow research has found.
Buffalo has relatively affordable homes ($234.9) and a strong job market, attracting new residents to the city.
After that comes Hartford, Connecticut; Providence, Rhode Island; Boston, Massachusetts; and Richmond, Virginia.
In these parts of the North East buyers outnumber listings 10 to one.
Orphe Divounguy, senior economist at Zillow, said: “This spring, we’re seeing signs of a more balanced housing market. Inventory is up 20% over last year, and about 1 in every 4 sellers are cutting prices.
“Still, there are areas where competition is intense and there are bidding wars for most homes. To compete in these markets, buyers need their finances in order, full visibility into what’s for sale and an agent who is an expert negotiator in their corner.”
The least competitive markets tend to be in the Sun Belt in the south of the country: led by Miami, Florida; Houston, Texas; and New Orleans, Louisiana.
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