Buyers' Market - when property inventory is high and sellers are eager to sell, buyers have the upper hand and can negotiate prices down.
Sellers' Market - when there is limited property inventory and buyers are competing for minimal homes, sellers have the advantage.
Everyone wants to buy low and sell high, but that isn't realistic all the time. Market conditions, location and availability may favor the buyer or seller. Determining which market you are in will guide your strategy tremendously when buying or selling a home. Hiring a real estate professional is always a good idea to help you navigate the road.
April Kuhlmann and Rob Purvis are your local Tucson real estate and mortgage experts. Contact us today for more information!