Buyers Market

· 2 min read
A buyer’s market happens when there are more homes for sale than there are people wanting to buy them — giving you the upper hand…

A buyer’s market happens when there are more homes for sale than there are people wanting to buy them — giving you the upper hand in price negotiations, repair requests, and closing terms.

The standard benchmark: if there’s more than six months of housing inventory (meaning it would take six months to sell every listed home at the current pace), you’re in a buyer’s market. Below four months? That’s a seller’s market. Between four and six is balanced.

Signs You’re in a Buyer’s Market

  • Homes sit on the market for 60+ days without offers
  • Sellers reduce prices regularly — check “days on market” and “price reduced” tags on listings
  • You see “seller will pay closing costs” or “motivated seller” in listing descriptions
  • Multiple listings in the same neighborhood with no pending sales
  • New construction builders are offering upgrades and incentives

How to Win in a Buyer’s Market

Offer below asking. When homes are sitting, sellers expect it. Start 5%–10% below list price on homes that’ve been listed 30+ days. The worst they can say is no.

Ask for concessions. Seller-paid closing costs, home warranties, repair credits — everything’s on the table. On a $350,000 home, getting the seller to cover $8,000 in closing costs saves you real cash at the table.

Keep your contingencies. In a seller’s market, buyers waive inspections and appraisal contingencies to compete. In a buyer’s market, keep every protection in place. Insist on a full inspection, demand repairs for anything major, and walk away if the appraisal comes up short.

Take your time. No urgency means better decisions. Visit a home twice before offering. Sleep on it. A buyer’s market is when patience actually pays off.

Frequently Asked Questions

Should I wait for a buyer’s market to purchase?

Timing the market is a fool’s errand. A buyer’s market gives you negotiating power, but if mortgage rates are higher (which often coincides with softer markets), your monthly payment might be the same or worse than buying in a competitive market with a lower rate. Buy when your finances are ready and you plan to stay at least 5–7 years. Use our affordability calculator to see what you can afford in the current conditions, and read the full buying guide to prepare properly regardless of market conditions.