What is the difference between a buyers’ market and a sellers’ market
The type of market you are in has a large bearing on the decisions you will make.
You must be aware of the characteristics of your market in order to make wise choices.
Here is a quick overview of the different market types.
Less People looking at buying then there are homes on the market
Mortgage interest rates are high
Slower increase in sale price, sometimes causing prices to decline
Increased time on the market
More people looking to buy then there are homes on the market
Shorter than normal selling times
Prices firm and may rise
Higher volume of sales
Greater buyer urgency
When supply and demand are about the same
Market moves at a good rate
Prices are stable