Brent can provide you with current real estate market conditions and explain their impact.
Market Conditions Characteristics Implications
- The supply of homes on the market exceeds demand.
- High inventory of homes. Few buyers compared to availability. Homes on the market longer. Prices tend to drop.
- More time to look for a home. More negotiating leverage.
- The number of buyers wanting homes exceeds the supply or number of homes on the market. Smaller inventory of homes. Many buyers.
- Homes sell quickly. Prices usually increase.
- May have to pay more. Make decisions quickly. Conditional offers may be rejected.
- The number of homes on the market is equal to the demand or number of buyers.
- Demand equals supply. Sellers accept reasonable offers. Homes sell within an acceptable time period. -Prices generally stable.
- More relaxed atmosphere. Reasonable number of homes to choose from.