Buyers market definition
Last modified March 5, 2022A buyer's market is a situation in which housing supply exceeds demand, giving purchasers an advantage over sellers in price negotiations. Buyer's Market is commonly used to describe real estate markets. It means that the advantage go to the Buyers in the negotiations because there are more houses for sale than Buyers. This is a great market for 1st time homebuyers because the Sellers are anxious to sell thier property.
Did you find this explanation helpful?
Top 10 terms for First-Time Home Buyers:
- Homeowner's or Hazard Insurance policy
- Real Estate and Mortgage Disclosures
- Consumer Mortgage Disclosures are a Federal Regulation.
- Due on Sale Clause
- Federal Home Loan Bank or FHLB
- APR (Annual Percentage Rate)
- Federal tax lien
- PMI (Private Mortgage Insurance)
- General liens on property
- Gift letters in mortgages