Is it a buyers Market

The definition used in the Real Estate Industry for a "buyer's market" would be when we have 6+ months of inventory. 4-6 months is considered a "balanced" market and anything under 4 months is considered a "seller's" market. The last data we have for July shows us at about 2.5 months of inventory which still puts us firmly in a sellers market. The reason this feels SO different and like such a gigantic shift, is because last year (and even points early this year) we had less than two weeks of inventory! That IS a big shift.

Buyer power has increased SIGNIFICANTLY and we're able to negotiate far more creative deals, get buyer concessions and even lower prices. But right now, we're still looking at sellers having enough options to be able to pass on low ball offers and still get it sold in most cases. If you want a killer deal, try searching for homes that have been listed on the market for 30+ days or properties that need some rehab. And if you want other tips on how to make the most out of this shifting market make sure to like, comment and follow for more tips!