The time has finally come. After what has seemed like an eternity for many potential homebuyers, the seller's market appears to be cooling off in many real estate markets across the country.
According to Zillow research, after several years of rising prices and competitive bidding, now is the perfect time to purchase a home, and the outlook only looks sweeter as we head into winter.
"The housing market always lets up a little in the fall, when kids are back in school and the home shopping season wraps up for the holidays," says Zillow Senior Economist Aaron Terrazas. "But this fall and winter are shaping up to be more favorable for those buyers who have struggled to get into the housing market for several years amid red-hot competition."
And Zillow has taken this information to the next step by compiling a list of the 10 best places for homebuyers this winter, based on these three metrics:
- An increase in the share of listings with a price cut
- Projected increase in rent appreciation over the next year
- Affordability relative to the past
Some surprising cities make the list, including Seattle and Las Vegas, which were previously difficult markets for struggling prospective homebuyers in the past. Here are the 10 best places for buyers this winter, based on the metrics listed above:
- Las Vegas