Over the last several years most buyers and sellers have dealt with either a buyer’s or seller’s market. A buyer’s market is what the market is called when there are more sellers than buyers, so the listings take longer to sell and buyers can really shop around until they find exactly what they have been looking for.
A seller’s market occurs when there are few homes for sale and buyers have a lot of competition for homes. For the first time in a long time, the market is shifting toward a balanced market, where it favors neither buyers nor sellers. When the market is more balanced buyers and sellers need to approach the buying and selling of real estate a bit differently.
