What exactly is a “buyer’s market” or a “seller’s market,” and how does anyone know which one we’re in? ⁣
BUYER’S MARKET⁣
• Lots of for sale signs around town and homes on the MLS⁣
• Homes selling below listing price with several price cuts along the way⁣
• Increase in days on market⁣
• Population and job growth trending downward⁣
• Sellers offering to pay closing costs or give credits for new flooring or appliances⁣
• Sellers regularly taking their home off-market for a few weeks, then re-listing it, in an effort to make it appear “fresh”⁣
SELLER’S MARKET⁣
• Fewer for sale signs around town and homes on the MLS⁣
• More FSBOs because some think they don’t need an agent to sell⁣
• Homes selling through word-of-mouth before they are even listed⁣
• Low inventory levels and shorter days on market⁣
• Job growth above average ⁣

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