A seller’s market vs a buyer’s market impacts the homebuying process greatly. How soon to tour a home or the strategy to make an offer is dictated by the real estate market conditions. Below is a clear and simple chart explaining the difference and how it impacts the approach to home buying and home selling.

Buyer’s Market	Seller’s Market
There are more sellers wanting to sell their home than there are buyers wanting to purchase a home.	There are more buyers wanting to purchase a home than there are sellers wanting to sell their home.
Buyers have an advantage in negotiations because there is fierce competition amongst sellers and little competition with other buyers.	Sellers have an advantage in negotiations because there is fierce competition amongst buyers and little competition with other sellers.
Homes sell slowly and less likely to have multiple offers.	Homes sell very fast and often get multiple offers.
Few homes are sold “as-is” because sellers need to make homes enticing to attract buyers.	There is an increase in homes sold “as-is” because sellers know there are few options for buyers.
Sellers are more likely to be flexible with buyer contingencies. Contingencies may not necessarily weaken the offer.	Sellers are less likely to be flexible with buyer contingencies. Removing contingencies strengthens an offer.
Homes tend to sell for list price or less than list price.	Homes tend to sell for thousands above list price.
Lower likelihood that your first offer will be rejected.	Higher likelihood that your first offer (or several set of offers) will be rejected.

Thinking about buying or selling a home in the Houston area and want a local to guide you through the process?