A buyers market is when you only have 1 buyer per property rather than a sellers market where a seller can recieve multiple offers. A buyers market happens when interest rates rise. This is because buyers want to wait until rates drop so they can save money and make a higher profit in equity.
A buyers market can soften seller terms by making sellers more flexible to sell fast. If they have mortgage payments they do not want to pay or they don't want to manage the property a buyer can be a savior.
Buyers can request all kinds of incentives including seller paying closing costs, seller financing at low rates, and various other things only limited by the mind.More Articles