Today’s post is the first of a series of information that can prove helpful to those selling in both a GOOD or BAD market. In other words, a “GOOD” market for a seller would be when homes are scarce in supply in which a seller could control their asking price. A “BAD” market for a seller, on the other hand, would exist when homes are plentiful in supply. Therefore, a buyer could control their offer price.
This scenario illustrates the direct economic relationship between the supply and demand of a product or service. When the supply of a product / Real Estate decreases, the demand for a particular home increases (Seller’s “GOOD” market). And, when the supply of a product / Real Estate increases, the demand for a particular home decreases (Seller’s “BAD” market). In the case of a Seller’s “BAD” market, a buyer could shop around for a price that fits their budget.
Here is a question to consider, which will be discussed in the next edition of Did You Know?
What is the best way to sell your home?
THANK YOU for reading…
Owner, Beneficial Brokers LLC