Home sales are in a slump, but not everywhere. These five cities, because of lack of room to overbuild or a population influx, are still seller's markets.By Matt Woolsey, Forbes.com
If you've got property for sale, chances are you're in a bind: Nationwide, prices for existing homes keep falling, and new homes started a few years ago continue to come on the market, increasing inventory.
On top of that, the fallout from subprime lending, the subsequent tightening of credit and lending standards and the recent rise in long-term Treasury yields have shrunk the pool of eligible buyers.
Yet, not every market follows national trends, and despite the industry's overall problems, there are still cities where sellers have the upper hand. The best way to judge a buyer's versus a seller's market is a simple supply-demand analysis of housing stock: At the current rate of sales, how long would it take to sell off the inventory of single-family homes or condos? If that measure comes back high, houses sit on the market longer. If it is low, the market is tightening, which is good news for the seller.
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