Buying Your Home

The housing market cycles between three main stages. These are listed and explained below:

Buyer’s Market

• The number of home on the market is greater than the number of buyers

• Homes usually take longer to sell

• Prices stabilize

Seller’s Market

• The number of buyers exceeds the number of homes on the market

• Homes sell quicker

• Prices generally increase

• Sellers may receive offers from more than one buyer

Balanced Market

• Number of homes for sale is basically equal to the number of buyers

• Sellers will consider reasonable offers

• Homes sell within reasonable time frames

• Prices are generally stable