4 Not-So-Technical Indicators That It Might Be a Real Estate Buyers Market

Trying to pinpoint when a buyers’ market will happen is nearly impossible. It usually doesn’t happen overnight, and can even be difficult for economists to declare when it “officially” becomes a buyers’ market when one comes along.

But if you’re looking for some signs that a buyers’ market is on the way, here are 4 not-so-technical indicators to keep your eye on:

1) An Election Is Approaching

When you start seeing sign after sign on front lawns up and down the streets in a town, it’s a good sign that it’s either election season, or a good time to be a buyer! If you start seeing more “For Sale” signs, it’s a sign that a buyers’ market is on the way.

2) You Don’t Have to Rush as Much to See a House

In the heat of a sellers’ market, buyers pretty much need to stop whatever they’re in the middle of and speed over to the house the minute a new listing hits the market, or risk losing the chance to make an offer. But once you feel comfortable waiting a few days, and driving the speed limit on your way to the appointment, it probably means that buyers are in the driver’s seat.

3) “Coming Soon” Is Replaced With “Price Reduced”

In a sellers’ market, the listing agent often goes from having a “Coming Soon” rider on top of their sign, immediately to an “Under Contract” one. But when you start seeing agents place a “Price Reduced” sign on more and more listings, it probably means that a buyers’ market is coming soon!

4) You Can Reenact the Last Scene of a “House Hunters” Episode

In a sellers’ market, buyers are often fighting over the one house they can afford to buy, regardless of what the condition is, or what features it has on their wish list. But once buyers find themselves in a position to rehash all of the houses they’ve seen, and pick the best one of the bunch over some appetizers and a cocktail, it may just mean it’s a buyers’ market…