Everything You Need to Know About Buyer’s Market

Everything You Need to Know About Buyer’s Market

The past few years have been tough for buyers. With more buyers on the market than homes, properties have been selling quickly and for high prices often above asking.

In other words, we’ve been in a seller’s market.

But we won’t be in a seller’s market forever; eventually, the market will shift and we’ll be back in a buyer’s market, and if you want to be successful (as a buyer or seller), you need to understand what that entails.

A recent article from realtor.com outlined the ins and outs of buyer’s markets, including:

 

  • What is a buyer’s market? As the name suggests, a buyer’s market is a market that is more favorable to buyers than sellers.

 

  • What are some of the benefits of a buyer’s market? In a buyer’s market, buyers tend to hold more power, and can typically negotiate a better deal on their home purchase, whether by getting a better price, or getting more favorable terms like choosing their ideal closing date. It can also be less fast-paced, so buyers have more time to look for a home and don’t have to rush as much to make an offer. (Although, a well-priced home that appeals to one buyer will likely appeal to others, so there can still be bidding wars, and you shouldn’t wait too long to make an offer on a house you like even in a buyer’s market!) There is often more inventory to choose from as well, giving you more houses to choose from.

 

  • How can sellers best navigate a buyer’s market? If you’re trying to sell your home in a buyer’s market, you want to do everything you can to make your home appealing to buyers. Get professional photos taken and, if possible, make sure your home is move-in ready when you list. If it isn’t, be prepared to offer some concessions to sweeten the deal, like covering closing costs.

 

Did you find this blog helpful? Feel free to share it on Facebook, Twitter, and LinkedIn by clicking the green buttons on top.


Recent Blog Posts

Stay up to date on the latest real estate trends.

What is a Mortgage Rate Lock?

Lately it seems as if mortgage interest rates could as easily go up as they could go down at any given moment. So if you’re in the process of buying a home, you may wa… Read more

How To Pay Off Your Mortgage Faster

A home is a big purchase. Because it’s such a big purchase, it can take a long time to pay it off, oftentimes as long as 30 years. But it doesn’t have to take that lon… Read more

How To Avoid A Bidding War When Buying A House

If you’ve been planning on buying a home, there’s a good chance you were hoping that the good news about higher interest rates would be that there would at least be fe… Read more

8 Truths That Prove Every Real Estate Agent Is Not the Same

Let’s take a look at 8 common misconceptions people have about agents and why they are not all the same.

Spruce Up Your Bathroom With 2024’s Hottest Bathroom Design Trends

As people settle into the new year, many are looking for new, trendy, and stylish ways they can change and refresh their home, which often includes their bathrooms. In… Read more

Innovative Living: The Coolest Tech Reveals at CES 2024

From AI-powered refrigerators that double as personal chefs to transparent TVs redefining visual experiences, this year's innovations are set to reshape the landscape … Read more

Home Maintenance Costs Getting Out of Control? These Tips Can Help You Save

According to a recent report from Thumbtack, home maintenance costs are on the rise. But there’s good news! There are ways to save on your maintenance bills, if you ha… Read more

8 Things Homebuyers Do to Get a Better Deal That Can Cause a Seller to Reject Their Offer

Some buyers make mistakes that don’t go over well with sellers, and they end up with a worse deal than they could’ve negotiated, or even lose the house altogether. Her… Read more

Real Estate News USA

Whether you're a seasoned investor, a first-time homebuyer, or simply curious about the market trends, our brief yet informative snapshots will keep you in the know. F… Read more

Work With Us