To Buy or to Sell?
As you're pretending to work this week while eating and breathing your March Madness bracket, consider this: It's not just college hoops that's a regional affair. According to Zillow, the spring housing market is turning into a story of East vs. West. (Where is Ming Tsai when you need him?) Philadelphia ranks No. 2 among buyers' markets in the US, outranked only by Cleveland and just ahead of Tampa, Chicago, and Pittsburgh. As any newcomer to Philly can attest, homes have stayed on the market longer than average, giving buyers an advantage in getting a good price. The sheer number of multifamily projects in the ground—including Post Brothers' Presidential Family Apartments, Dranoff Properties' Southstar Lofts, and PMC Property's 1900 Arch—have certainly helped to keep up supply. The top sellers' market? San Jose, followed by San Francisco, where a tight inventory and growing competition (and, apparently, Google buses) are driving housing prices.
