MARKET CONDITIONS
Understanding the current market conditions when planning to purchase a property is an important first step. News coverage of the markets can be confusing, and terminology can be misleading. Let me take a few moments to give you an overview of the 3 basic market conditions in the Real Estate Industry.
BUYER'S MARKET

In a Buyer’s Market the supply of homes on the market is more than the demand. (fewer sellers and more buyers)

The results of this are:

1) Buyers have more to choose from

2) Buyers often can negotiate a sharper price

3) Buyers have time to think about a property before buying

SELLER'S MARKET

In a Seller’s Market the supply of homes on the market is less than the demand. (fewer buyers and more sellers)

The results of this are:

1) Buyers have less to choose from

2) Sellers can negotiate a sharper price

3) Buyers must act FAST!

NORMAL MARKET

In a normal market, the number of sellers and buyers are on an equal standing. Market conditions can change rapidly, and the information must be used as a tool, not as a decision maker. Market conditions can be different from one neighborhood to another, and the varying degree of conditions can influence the purchase or sale of a home against the common trend.

CONTACT ME TODAY!

Mary Burns

Agent | License ID: 166711

+1(778) 554-9449

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