Housing markets in the Sun Belt — including Houston — are the least-competitive for U.S. homebuyers this spring, according to a new Zillow report. That’s good news for buyers, who have considerably more options than their counterparts in tighter markets on the East Coast.
In fact, Houston was the second-least competitive in the country in March, with only 3.4 engaged shoppers per active listing.
Meanwhile, only 14.3% of Houston homes sold above list price — well below the national average of 27%. Homes also sold in a median of 28 days, compared to the national median of 17 days.
The only less-competitive market in the country was Miami, where there were just 2.6 engaged home shoppers per active listing, and the median home sold in 50 days. Just 8.2% of homes sold over listing price.