The balance in the housing market has shifted. For many years, buyers outnumbered sellers. There were too few homes for sale and hopeful buyers found themselves in bidding wars, competing with one another for the few available listings in their area. But these days, things are different. Home buyers have more negotiating power due to more available inventory. Simply put, as the number of homes available for sale has risen over the past few years, the market has grown more balanced. Now, according to one recent analysis, the balance may have shifted entirely from sellers to buyers. How so? Well, according to the data, there are an estimated 62.6 percent more home sellers nationwide than home buyers, which is the widest the gap has been in more than a decade. That’s a sign that most markets have become more buyer friendly, reducing competition, and giving home buyers active this fall more leverage than they’ve had in years. (source)
