Buyer's Market vs Seller's Market Explained

[@grumpyschnauzer]

We live in a very desirable metropolitan area similar to Seattle. We are seeing the opposite of what other parts of the country are experiencing. Interest rates average (6-7%), home prices high (starting at a minimum of 550k for a condo and $700k for a home) but these properties are sitting for weeks/months with no buyers (only potential investors buying). It feels like where I live and am buying buyers and sellers are going head to head. We both have leverage but we also both stand to lose. We offered asking on a property after they rejected two previous buyers and they decided to reject our offer, take it off the market, and lease it. Weeks later it’s still sitting vacant and this is why I will never sell to an investor/flipper/corp if I can help it. People are saying it’s a sellers market but I’m not seeing that so much. Multiple offers come in but the listing gets removed off-market or the deals fall through.

[@McDonaldResidential]

The market has changed in Seattle since I made this video. The market is much more balanced, not necessarily favoring buyers or sellers.

[@shinaward4976]

Yess so valuable for the real estate exam! 😊

[@McDonaldResidential]

glad it was helpful for you!

[@andyfromxbox]

Thank you for this currently getting my real estate license

[@McDonaldResidential]

congrats! Where are you located?

[@andyfromxbox]

@@McDonaldResidential north texas 👌

[@2fastg35]

In other words right now is not the best time to buy a home?

[@McDonaldResidential]

I wouldn’t say seller’s market = bad time to purchase a home. It could. We haven’t seen a true buyers market in the Seattle area for almost 10 years. 2018 was at least more balanced, though.

[@mr.k5687]

THIS VIDEO WAS CONFUSING.

[@McDonaldResidential]

What did you find confusing?

[@mr.k5687]

@@McDonaldResidential The fact that it's called a "seller market" but you have many buyers.

[@jimblessed9610]

@@mr.k5687 Yes. Seller's market means there are more buyers than homes. While buyer's market means there are more homes than buyers. Right Zach?

[@McDonaldResidential]

Seller’s market = seller has negotiating leverage (house < buyers) Buyer’s market = buyers have negotiating leverage (house > buyers)

[@NoneFB]

I think that he is a good presenter. Save the video, review the content until you get it