Buyers Market vs a Sellers Market
Here is a good breakdown of what it means to say a 'buyers market' vs a 'sellers market.'
During the housing crash, we were in a buyers market. There were a ton of homes on the market, and buyers could play hard ball with sellers.
Over the last 5 years or so, driven somewhat by low interest rates, the market has shifted to a sellers market. There are SO MANY buyers looking at very few homes on the market. Now the sellers can play hard ball.
Low inventory is making it very hard for people to buy a home right now. Will this change over the spring/summer? We shall see, but it is not looking great.