buyers' market

A buyers' market occurs when there are more homes or properties available for sale than there are buyers interested in purchasing them. This surplus of supply gives buyers more options and negotiating power, often leading to lower prices or better terms for buyers. Sellers may find it takes longer to sell their property and may need to be more flexible with pricing. Essentially, in a buyers' market, the overall environment favors those looking to buy, making it a good time for buyers to find favorable deals and negotiate effectively.