Thursday, 29 June 2017

What is a Buyer's Market? How do You Recognize One?

Written by Posted On Wednesday, 04 January 2017 21:11

What is a buyer’s market in real estate? In brief, it's when the number of homes for sale in an area is greater that the number of buyers. That advantage allows buyers to be  very aggressive with offers, better control the purchase process and essentially dictate the terms of the deal. The best example of this was the aftermath of the crash - the number of homes on the market was staggering and the buyers could literally pick and choose.

Most sources use "months of inventory" as a primary measure to determine if a market favors sellers or buyers. This figure is the number of months it would take to sell all existing inventory at the current rate without adding any new listings. Typically balanced markets have a 4-6 month supply of homes; under that tends to favor sellers and above that favors buyers.

There are a significant number of other variables that play into every market and these include the local economy, interest rates, the area, the home itself, buyers and sellers as well. The critical things to watch for and monitor can be key to either buyers or sellers take advantage of the conditions. Knowing the characteristics to recognize, how to collect and interpret the data and how to structure a response to that data is important for each side.

Learn how to recognize a buyer's market and those things that create one. Buyers and agents that are savvy to the nuances can hold a major advantage when it comes to buying a home. Read all about it at What is a Buyer's Market in Real Estate?

 

The Hank Miller Team provides confidence to clients buying and selling homes in the North Atlanta Real Estate Market. Our unmatched sales and appraisal experience, relentless drive and ability to manage transactions allow our clients to make sound, decisive real estate decisions. We offer full time, full service, personal hands on attention and concierge level service every step of the way for perhaps the most important financial decision you’ll make. 

 

Questions? Need more info? Call 678-428-8276

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Hank Miller, SRA

Hank Miller is an Associate Broker & Certified Appraiser in the north metro Atlanta area. Since 1989, real estate has been his full time profession. Hank´s clients benefit from his appraisal and sales experience; they act upon data, not baseless opinions. He is an outspoken critic of the lax standards in the agent community.

Hank remains an active certified appraiser and completes specialty work for FNMA, lenders and attorneys. He is a well-known blogger and continues to guest write for multiple industry publications as well as national outlets like the WSJ, NYT, RE Magazine, USA Today and others. He is a regular on public Q&A sites on Zillow, Trulia and many others.

Hank consistently ranks in the top 1% of all agents in the metro Atlanta area. He runs the Hank Miller Team and is known as much for his ability as he is for his opinions. He is especially outspoken about the lack of professional standards and expectations in the real estate industry.

www.hmtatlanta.com
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