The buzz at NAR is that even the most heated markets are now slowing. Inventories are increasing at a dramatic rate. Could the next buyer’s market be just around the corner?
A buyer’s market is our industry’s worst nightmare. Unlike a seller’s market where there is limited inventory and what is listed sells quickly, a buyer’s market is one where there is too much inventory and very little activity. Worse yet, while sellers cannot underprice their property in a strong seller’s market, in a buyer’s market, overpricing is the kiss of death.