HOW TO UNDERSTAND
HOME BUYING MARKET CONDITIONS
Market Type with Characteristics and Implications for Buyers:
Buyers Market:
The supply of homes on the market exceeds demand or number of buyers.
Characteristics:
High inventory of homes.
Few buyers compared to availability.
Homes on the market longer.
Prices will stabilize or (perhaps) drop.
Implications for Buyers:
You will have more time to look for a home.
More negotiating leverage.
Sellers Market:
The number of buyers wanting homes. exceeds the supply or number of homes on the market.
Characteristics:
Minimal inventory of homes.
Many buyers.
Homes sell quickly.
Prices usually increase.
Implications for Buyers:
You may have to pay more.
You have to make decisions quickly.
Conditional offers may be rejected.
Balanced Market:
The number of homes on the market is equal to the demand or number of buyers.
Characteristics:
Demand equals the supply.
Sellers accept reasonable offers.
Houses sell within reasonable time period.
Prices generally stable.
Implications for Buyers:
More relaxed atmosphere.
Reasonable number of homes to choose from.
Contact Barbara Coleman for the latest information on market trends in the Ottawa-Carleton region! | 
