What Is a Buyer’s Market—and What Does It Mean If You’re Buying, Selling, or Just Looking?

As you might have guessed, a buyer’s market favors homebuyers, not sellers . But what, exactly, does that mean? “It means external conditions—like supply and demand, comparable sales in the neighborhood, the economy, public opinion, confidence in the future, and changes in the tax laws—favor buyers," says Robert Elson , a real estate agent with
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