Seller's Market? Buyer's Market?
The market is an ever changing thing. From one week to the next it can change directions and feel. I track the market continuously and I can tell you what the market is doing today if you let me. A Seller's market occurs when there is more demand, or more Buyers, than there is inventory, or homes for sale. In a Seller's market, the home Seller has more power to get what they want and limit negotiations with the Buyer, because there's always another Buyer in a Seller's market. A Buyer's market is when there is more inventory than demand. In a Buyer's market, the Seller generally has to give a little more and ask a little less to get his house sold. There is more competition, and the Seller in a Buyer's market will often find themselves having to negotiate more.
I plan to post my tracking here on my blog on a regular basis, so check back often or email me at Dan@DanMhomes.com