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.
