The article provides insights into buyer's and seller's markets, emphasizing the importance of understanding current housing market conditions. A buyer's market occurs when there are more homes for sale than buyers, allowing buyers to negotiate lower prices while sellers may struggle with longer market times. Conversely, a seller's market features higher demand than supply, which gives sellers leverage as multiple buyers compete, often resulting in higher prices. Knowledge of these market dynamics is crucial for making informed real estate decisions.
A buyer's market occurs when the supply exceeds demand—more homes for sale than buyers. This gives buyers leverage to negotiate better prices.
In a seller's market, demand exceeds supply. More buyers than homes mean competitive offers, often leading sellers to receive higher prices than expected.
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