A market condition where there are more homes for sale than there are buyers, giving purchasers the advantage. In a buyer's market, properties sit on the market longer, price reductions are common, sellers are more willing to negotiate, and buyers can take their time. Typically characterized by an MOI above 6 months and an SNLR below 40%.
Why It Matters
In a buyer's market, you have leverage. You can include conditions, negotiate on price, and walk away without fear of missing out. For sellers, it means pricing realistically, staging well, and being patient. Knowing which market you're in shapes every decision you make.
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