This would be when there are fewer
homes than buyers. The buyers are ready and able to buy. Homes would sell for
close to asking price and even over asking price.
A Buyer's Market
A buyer's market would be when there are many homes
on the market and few buyers that are ready and able to buy. Homes
during this market sell for below market value and are on the market
longer.
Where is the Market Today?
Anyone that has their home on the market
right now could tell you that it is definitely a buyer's market. Homes are not
selling quickly and there are many homes on the market. Buyers are having a hard
time buying a home since lenders are making it harder to get loans. For the
buyers with good credit and who are seriously wanting to move, there are plenty
of good opportunities out there.
