For the first time in 11 months, homebuyers gained some negotiating power in December.
Zillow.com’s measure of discounts off list price creeped up from 2.6% to 2.7%, saving homebuyers an additional $80 on average.
The rise in negotiating power is a sign that demand does not easily support the market comeback.
National sentiment is still of the view that that home prices will fall.
Homebuyer negotiating power is highest in Florida and the Northeast, where homebuyers should plan to lowball like hell (from Zillow.com):
On the other hand, there’s a growing seller’s market in places that saw high foreclosures re-sales, which are now perceived as undervalued. Namely, So-Cal:
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