Thats especially true east of the Mississippi River.
Zillow’s Top 10 Markets
Note: All data displayed in the table is from Zillow.
The data is for Dec. 31, 2022, and is not seasonally adjusted.
Zillow predicts Charlotte will be the hottest housing market in 2023. Getty Images
More cities from the Midwest entered Zillows top 10 this year.
And last years hottest real estate market Tampa, Florida fell out of the top 10.
No Interest Til Almost 2027?
Balance Transfer = Credit Card Cheat Code
Here are six suggestions.
For sellers, youll know that an offer isnt going to fall through.
Did you know?
A good real estate agent will keep you grounded in reality.
Theyll also save you a lot of time and money.
Theyll take care of all the heavy paperwork, and theyll be your spokesperson in negotiations.
Not only that, good real estate agents have plenty of connections within their local market.
Many will know of houses that are coming on the market before theyre featured online.
This could give you a great advantage in putting in offers.
Keep all these things in mind when youre buying or selling.
A good real estate agent is well worth the commission theyll charge.
Thats where ahome inspectorcomes in.
Theyll give you a report detailing their discoveries.
So if the roof needs repairs, youll know it.
If the hot water heater is on its last leg, youll know that, too.
The seller will get a copy of the report, which you then can use for negotiation purposes.
Just like a real estate agent, a home inspector will make your life much easier.
They are experts in their fields and know to look for issues the common homebuyer wont think about.
For a buyer, that should be a red flag.
All that said, current market conditions mean buyers will have to keep contingencies to a minimum.
Contingencies are the contractual stipulations buyers and sellers must meet before the deal can close.
As you might guess, sellers dont like to have too many of them to deal with.
In a sellers market, those demands generally wont fly.
Your real estate agent will help set your asking prices using relevant data.
For buyers, that same data will factor into any offer you make on a house.
Your agent should have a good sense, right away, as to whether the buyer is legit.
Lean in to them as you negotiate what could be the biggest purchase or sale of your life.
will know the situation and should know you well enough to ensure you stay within your comfort level.
The bottom line: The seller will always have the advantage in a sellers market.
Whether you are buying or selling, keep this in mind throughout the entire process.
And, in a sellers market, your strategy should be even more foolproof.
As the buyer, you absolutely need to be realistic abouthow much house you could afford.
Know your budget going in, and be clear with your agent about it.
Be patient and trust your agentto guide you through the processthat will help you find that perfect home.
Robert Bruce is a senior staff writer at The Penny Hoarder covering earning, saving and managing money.
He has written about personal finance for more than a decade.
(Can you sense my millennial sarcasm there?)
You know which ones were talking about: rent, utilities, cell phone bill, insurance, groceries…
