Understanding Market Conditions The real estate market is always changing. It helps to understand how market conditions can affect your position as a buyer. I will provide you with current real estate market conditions and explain their impact. |
MARKET CONDITIONS | CHARACTERISTICS | IMPLICATIONS |
Buyer's Market: |
High inventory of homes. |
More time to look for a home. More negotiating leverage. |
Seller's Market: The number of buyers wanting homes exceeds the supply |
Smaller inventory of homes. Many buyers. Homes sell quickly. Prices usually increase. |
Have to pay more. Make decisions quickly. Conditional offers may be rejected |
Balanced Market: The number of homes on the market is equal to the demand or number of buyers. |
Demand equals supply. |
More relaxed atmosphere. Reasonable number of homes to choose from. |