How can you tell whether it’s a buyers’ or sellers’ market? This is a great question. When you have more buyers than homes, it becomes a sellers market.
It’s the best scenario a home seller can be in; it promises good home appreciation, a quick selling time on market and possibly offers that exceed listing prices and the best case scenario-multiple offers. That was a few years ago.
Now, it is officially a buyers market. This is when you have more homes to sell than buyers to buy. A buyer’s best scenario begins with lots of home to choose from, low interest rates, and sellers willing to negotiate to get the deal done. If you’re looking to make a real estate purchase, now is the great time to buy.