Market Weather
60 seconds
6 of 12
Small lessons.
A big move.
The big idea
What is Market Weather: a buyer's market or a seller's market?
Markets have weather.
Count the months of homes for sale.
By a common rule of thumb, under 6 months means more buyers than homes, so offers compete.
Over 6 means you have more room to negotiate.
Under about 6 months is a Heat wave.
Over about 6 is Sunny for buyers.
See it in an example
Example
Two forecasts.
Heat wave: usually multiple offers
Sunny for buyers: price often negotiable
Rule of thumb. Your agent knows today's market.
Take the quick check
A city has about 3 months of homes for sale. That's a…