In other words, there are many interested buyers, but the real estate inventory is low. Since there are fewer homes available, sellers are at an advantage. In a seller's market, homes sell faster, and buyers must compete with each other in order to score a property.
A buyer's market occurs when supply exceeds demand. ... In a buyer's market, real estate prices decrease, and homes linger on the market longer. So, sellers must compete with each other in order to attract buyers. Typically, sellers will drop their asking prices to gain an advantage in the market.
Many people believe that a seller’s market means they can sell their home for more than its current market value. That is not always true. although some sellers do sell their homes over current market value; it’s just not typical.
There ae many factors at play that can make the difference. Not everyone is searching for a home valued over eight hundred thousand. Although they’re available, it’s just not typical.
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This content last updated on Monday, March 20, 2023 11:15 AM from Realtracs.
This content last updated on Thursday, January 19, 2023 1:30 PM from RASK.
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