Buyer's Market

In a nutshell, a buyer's market is when there are more houses for sale than there are buyers. It's the opposite of a seller's market, which is when there are more buyers than there are houses for sale. 

In a buyer's market, buyers have more negotiating power because they have more options to choose from. As a result, prices tend to be lower in a buyer's market. 

If you're thinking of selling your home, it's important to know whether you're in a buyer's market or a seller's market. That way, you can price your home accordingly and know what to expect in terms of negotiation. 

How to Tell if You're in a Buyer's Market.

There are a few key indicators that will tell you whether you're in a buyer's or seller's market. 

The first is the number of days on the market. This is the average number of days that it takes for a house to sell once it's listed. In a seller's market, homes typically sell within 30 days. In a buyer's market, it can take 60-90 days or longer for a house to sell. 

You can also look at the absorption rate, which is the number of months it would take to sell all the homes on the market at the current pace of sales. Anything over six months is considered a buyer's market; anything under six months is considered a seller's market. 

Finally, you can look at the inventory-to-sales ratio. This measures how many months it would take to sell all the homes on the market at the current pace of sales. Anything over six months is considered a buyer’s market; anything under six months is considered a seller’s market. 

Knowing whether you're in a buyer's or seller's real estate market is crucial when pricing and selling your home . By understanding how these markets work, you can be sure to get the best possible price for your home .