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Cindie Carr-Harris
Sales Representative

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The real estate market is always changing.  It helps to understand how market conditions can affect your position as a buyer.

Buyer’s Market

Market Conditions: The supply of homes on the market exceeds demand.

Characteristics:  High inventory of homes.  Few buyers compared to availability.  Homes on the market longer.  Prices tend to drop.

Implications:  More time to look for a home.  More negotiating leverage.

Seller’s Market:

Market Conditions: The number of buyers wanting homes exceeds the supply or number of homes on the market.

Characteristics:  Smaller inventory of homes.  Many buyers.  Homes sell quickly.  Prices usually increase.

Implications:  May have to pay more.  Make decisions quickly.  Conditional offers may be rejected.

Balanced Market:

Market Conditions:  The number of homes on the market is equal to the demand or number of buyers.

Characteristics:  Demand equals supply.  Sellers accept reasonable offers.  Homes sell within an acceptable time period.  Prices generally stable.

Implications:  More relaxed atmosphere.  Reasonable number of homes to choose from.


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