What is a Buyer’s Market?

What is a Buyer’s Market?

Real estate can be a difficult playing field to predict, especially when it comes to a buyer’s versus a seller’s market. Lower prices mean a more relaxed time while higher prices skew the odds against you as a buyer. The question is, will 2021 be a better time for buyers or sellers? We’re defining a buyer’s market and what exactly that means for you and your next potential home.

 

What a Buyer’s Market Means

A buyer’s market is a time in real estate in which prices are lower, giving the buyer an advantage. This means that property competition is much more relaxed, allowing potential buyers more time to consider all options. Purchasing a home in a buyer’s market is a great investment. You could buy your home at the lowest price, wait a few years, then sell it at a higher price when the market changes. 2020 has definitely been the year of the seller’s market. Prices are high and many Americans are having a difficult time finding a home. The good news is that the tide may change in the next year or two once the pandemic has calmed down. Be sure to keep an eye out for dips in prices later down the line! A buyer’s market may be coming!

How to Handle a Buyer’s Market

Knowing what’s available on the market will give you an outstanding advantage during a buyer’s market. Because costs and competition will be so much lower, you’ll have more flexibility to negotiate. Pay attention to how long a house has been on the market. The longer it’s been available, the more leverage you’ll have in negotiating. Make sure to also look into how the home you’re interested in compares to others on the market. If you notice that the home you’re interested in sells for less in other areas, bring this up! All’s fair in negotiating in a buyer’s market!

 

Staying aware of the shifting tides of the real estate market is something you should be doing year-round. The market can change at any time, and your needs should determine when and where you need to buy. Life doesn’t always match up with the market time, so whether it’s a year for buyers or sellers, you should be honest with what’s feasible. Don’t be afraid to negotiate, and research comparative prices to ensure you’re getting the best deal. Happy buying!


Recent Blog Posts

Stay up to date on the latest real estate trends.

Rica's Heart

I Surrender | March 2024

Rica's Heart

What's Your Love Language | February 2024

Unlocking your love language

Rica's Heart

Ruiz Review | January 2024

Dear Friends, I’m excited to share with you this year’s edition of the “Ruiz Review.” I started writing these on behalf of my family 19 years ago. Now, my 16-year-… Read more

Real Estate

Benefits of Using a Real Estate Agent To Sell Your Home

Have you ever wondered if it would be easier to sell your own home? Here is why we are saying you can but you won't want to after reading this blog.

Rica's Heart

My Community | December 2023

The past few months I have been thinking about what it means to be in community. Even the Bible says that God created us to be in community - that we are created to li… Read more

Real Estate

Christmas Home Decorating Ideas

We are here to help you if you are stuck on some Christmas home decorating ideas. Do you want a new style? Do you want to try a new look? We are here to help you!

Real Estate

Best Places to Catch Holiday Cheer in the Bay Area

It is the Holiday season and we would like to tell you about some upcoming events so you can join in and grab some Holiday Cheer.

Rica's Heart

Cinderella Complex | November 2023

I have a confession to make. Some of you aren’t going to like it. In fact, some of you may think this is coming out of left field. You’re going to think this is comple… Read more

Real Estate

Thanksgiving Home Decorating Ideas

Show your family your Thanksgiving decorating skills and give them the Thanksgiving of their dreams.

Let’s Talk

You’ve got questions and we can’t wait to answer them.