When you buy a home, you want to get the best deal possible. Realtors often throw around the terms “buyer’s market” or “seller’s market,” but what does that really mean?
In a buyer’s market, there are more people looking to sell houses than buy them, so sellers may have to accept a lower price than they want.
A seller’s market is just the opposite. The demand is larger than the supply, and often several buyers wind up competing to buy a house. That drives the prices higher.