News reports make us think that home buyers have vanished. However, the pool of buyers and the demand remain the same in all markets. What changes is the supply of homes which either motivates buyers to buy now or wait. Buyers act when they see a perception of value. For example, if a property with a market value of $600,000 was offered for $500,000, there would be a large number of anxious buyers bidding up for that property.

What does this mean for sellers? When the supply of homes increases, prices need to go down to attract the pool of buyers.
What does this mean for buyers?When the supply of homes is larger, bargains are available when you have me to negotiate for you.
Whenever you need real estate advice or additional market insights, I am always ready to assist with my real estate expertise. For questions feel free to contact me.