Changing Markets

Posted by Joel Nash Jun 3, 2006

A buyers' market is when the number of homes for sale outnumbers the buyers looking for new homes. This means there is less competition for potential homes.

A sellers' market is when there are more buyers than there are homes on the market. This means increased competition for individual homes.

Many areas are beginning to transition from a sellers' market to a buyers' market. The level of competition is reducing and that means lower price increases, less buyer activity and more demanding buyers.

Sellers have gone through a very aggressive buying period and this may take some getting used too. Talk to your local real estate professional to get guidance on pricing and activity in your area.