Here is a post from the Cornerstone Video Blog. Robert explains to us what a buyers market is, and tells us how the Logan Real Estate market is, while he drives.
A balanced real estate market is one in which the absorption rate is between five and seven months. This means, that at the current sales pace, it would take 5 – 7 months to sell off all of the existing homes if no other homes were listed.
A buyers market is one has more than seven months of active real estate inventory. In a buyers market, there is very little competition for homes for sale, and buyers have strong negotiating power and can usually get the sellers to give a little bit more. It is a huge buyers market for homes for sale over $200,000 in Cache Valley. Based on the last six months of home sales, there is an absorption rate of more than 17 months! For homes priced less than $200,000, the market is just slightly tipped on the buyers side, as there is an absorption rate of about seven and a half percent.
If you want to take advantage of this buyers market, view Logan Utah homes for sale now.