Three Types of Real Estate Markets:
This describes a market that is neither a buyers market or a sellers market. Houses are staying on the market longer than in a sellers market and prices are remaining stable.
This is when there are more buyers looking to purchase a house than there are houses listed for sale. Competition for house can be fierce and houses listed for sale may receive multiple offers resulting in selling over the list price and increasing market value.
This is when there are more sellers than buyers and there is a good supply of houses on the market.
Buyers can afford to take their time when looking for a house and there are many houses on the market.