It helps to understand how market conditions can affect your position as a buyer or seller. We can provide you with current real estate market conditions and explain their impact.
Market conditions |
Characteristics |
Implications |
Buyer's Market The supply of homes for sale on the market exceeds the demand.
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High inventory of homes. Few buyers compared to availability. Homes are on the market longer. Prices tend to drop.
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More time to look for a house. More negotiating leverage.
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Seller's Market There are more buyers looking to buy homes than there are homes on the market.
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Smaller inventory of homes. Many buyers. Houses sell quickly. Prices usually increase.
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May have to pay more and make decisions quickly. Conditional offers may be rejected.
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Balanced Market The number of homes on the market is equal to the number of buyers.
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Sellers accept reasonable offers. Homes sell within an acceptable time period. Prices are generally stable.
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More relaxed atmosphere. Reasonable number of houses to choose from.
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