Dealing with the changing housing inventory

What is a Buyer's Market? How does it differ from a Seller's Market?

…So what?

Buyer's Market
When there are lots of properties on the market at the same time, the buyer has lots of choices and therefore often has the upper hand in negotiations. He can always go buy another house if any particular house doesn't pan out.

Seller's Market
When there are very few properties for sale at any one time, the buyer often has to settle for terms or even a home that are not what he really wanted. There just are not many choices. In this case the seller often has the advantage, because there are more buyers than properties. It means the buyer must often pay more than the asking price to compete with other determined buyers.

Balanced Market
Most of the time, there enough homes on the market and buyers looking for homes that neither has much of an advantage.

The nature of the real estate market is that the pendulum swings. During the "recession" of the early nineties, it was a Buyer's Market. The economy was poor and consumer confidence was low. During the late nineties, the economy and consumer confidence turned quickly and it fast became a Seller's Market. As soon as the pent-up demand (actually stored indecision) was satisfied, it became a Balanced Market.

When you are a buyer, you must consider what kind of market you are operating in, and change your strategy accordingly.

back to top

Jay Madigan
860-729-3263 Cell Phone

Send Jay EMAIL

RE/MAX East/West of the River
297 E Center St
Manchester  CT  06040
Office:  860-647-1419
Toll Free:  800-544-4932
Fax:  860-649-4490

All rights reserved

Please report any website problems to

Admin

This site contains information about homes for sale, listings, search for homes for sale, search the MLS, schools information in westhersfield, greater Hartford Connecticut. Listing for New construction, new homes, Single family homes, condo, luxury homes in Hartform CT, condos and townhomes townhouses for sale, residential income property, home ownership