What's the Difference Between Buyer's and Seller's Markets?

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Hey guys, today we are going to talk about the difference between a buyer's market and a seller's market, and what the advantages and disadvantages of each are. The example I like to use is as follows:

In a buyer's market, you have 100 homes with 50 buyers. Even after all the buyers buy, there are still 50 homes on the market. In order to sell, you've got to lower your price to draw more attention and more buyers for your home to get it to sell. When that happens, home values decrease and buyers get good deals.

During a seller's market, you have the opposite. You have 100 buyers and 50 homes. The buyers then have to compete with one another to get the home they want. When this happens, home values increase and sellers get a better deal.

Over the course of 6 years, we typically shift from one to the other, and are rarely in a balanced market. If you have any questions for us or are wondering what current market conditions are like now, give us a call or send us an email. We look forward to speaking with you!