RE/MAX Tricolor - What is the difference between a Buyers Market and a Sellers Market?

Answer:

A Buyers Market refers to a marketplace that is favourable to buyers because there are more homes listed than can be expected to sell in the immediate future. For example, if 20 homes were listed in a neighbourhood and only 5 were sold in the last month, there is a 4 month supply of homes for sale. Of course a Buyers Market can, and does, change based on economic conditions such as rising or falling interest rates or the local business economy.

Conversely if there were only 5 homes listed and 20 buyers waiting to buy, this would be a Sellers Market.  If for example all 20 homes plus 5 additional newly listed homes all sell within a few .months, then the market has changed and become a Sellers Market, when buyer demand meets or exceeds the homes-for-sale supply.

For any further questions or concerns about buying or selling, please feel free to contact us. We are always ready to assist you.

 -Gail Compton