08/03/2023
A buyer’s market is characterized by slow home sales, lots of available properties and declining home prices. A seller’s market is characterized by rapid home sales, shortages of available homes and rising real estate prices.
Keep in mind, that a housing market is specific to the location. Different cities in the same state can have different housing markets.
As a buyer or seller, it is important for you to know what type of market you are in. This will play a factor in your real estate process.