SEATTLE—US home values rose more slowly in August than they have in a year, and the cooling market offered a clear view of local markets that favor either buyers or sellers, according to a recent report from Zillow.
The nation's hottest markets, on the west coast, continued to favor sellers with quick sales and high asking prices. But some still-recovering markets remained a bargain for buyers as more homes went up for sale.

U.S. home values rose in August, up 0.1% from July and 6.6% from August 2013, to a Zillow Home Value Index of $175,600, according to the August Zillow Real Estate Market Reports. The pace of home value appreciation is expected to slow to 3.1% through August 2015, according to the Zillow Home Value Forecast.
According to the latest Zillow analysis of buyers' and sellers' markets, sellers in the Bay Area, Seattle and Dallas have the most negotiating power, with final sale prices largely at or above asking. For those looking to buy a home, the Northeast and Midwest offer the most favorable conditions, as buyers are less likely to be faced with the fierce bidding wars seen across the West Coast and in larger cities across the country.
In this analysis, a sellers' market is not necessarily one where home values are rising, but rather one in which homes are on the market for a shorter time, price cuts occur less frequently and homes are sold at prices very close to (or greater than) their last listing price. In buyers' markets, homes for sale stay on the market longer, price cuts occur more frequently and homes are sold for less relative to their listing price.

 

Other highlights:

- The U.S. Zillow Home Value Index rose to $175,600 in August, up 6.6 percent year-over-year, the slowest annual pace in the last 12 months.

- U.S. home values are expected to rise another 3.1 percent through August 2015.

- Inventory of all for-sale homes nationwide rose 20.6 percent year-over-year and 2.1 percent month-over-month in August.

 


        Top 10 Sellers' Markets  Top  10 Buyers' Markets


1.      San Jose, CA                      1.  Providence, RI


2.      San Francisco, CA                2.  Cleveland, OH


3.      Seattle, WA                      3.  Philadelphia, PA


4.      Dallas-Fort Worth, TX            4.  Milwaukee, WI


5.      Denver, CO                        5.  Chicago, IL

6.      Riverside, CA                    6.  Pittsburgh, PA


7.      Las Vegas, NV                    7.  Tampa, FL


8.      Los Angeles, CA                  8.  New York/Northern NJ


9.      Nashville, TN                    9.  Cincinnati, OH


10.    Sacramento, CA                  10.  Jacksonville, FL

 

 

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