What is a buyer's market?

A buyer’s market happens when there are more homes for sale than there are people looking to buy. This gives buyers an advantage. Sellers may lower their prices, be more open to negotiations, and allow homes to stay on the market longer. In a buyer’s market, you have more time to compare homes, ask for repairs, or request help with closing costs. Simply put, you get more choices, better deals, and more negotiating power—making it a great time to buy a home.