Supply of for-sale home inventory has had a choke-hold on demand, and according to Zillow, trends aren't much pointing to improvement.
Here, Zillow marketing analyst Emily Heffter taps in to the January Zillow Real Estate Market Reports for a dive across the market-scape, identifying places where either the buyer side or the seller side has the upper hand, even as the total national figure for available, for-sale homes rang in January 2016 at a level 8.6% lower than a year earlier. Heffter writes:
We found that sellers have more negotiating power in competitive cities, mostly in the West, where job markets are hot and demand for housing is heavy.
On the other end of the spectrum, we looked at markets where buyers have more control, because there are more price cuts and homes are on the market longer.