What is a buyers or sellers market?
A sellers’ market occurs when there are more buyers than there are houses on the market. A buyers’ market occurs when there are more houses on the market than there are buyers. 2002 was pretty much the same as 2001 with a few gaps occurring in July, November and December where we found sellers slow to put property on the market thereby reducing the inventory a little. In 2003 we continue to have a buyers market in relation to inventory and a scarceness of qualified buyers makes each a premium. Sellers have not recognized this phenomena and continue to hold out for “their” price making it a very delicate buyers market.
