What is the difference between a "Buyers' Market" and a "Sellers Market?"
A buyers' market refers to a marketplace that favors home buyers because more homes are listed than can be expected sell in the near future. If, for example, 20 homes are listed in a neighborhood, and 5 were sold in the last month, the neighborhood has a 4-month supply of homes for sale.
Of course, the market can and does change based on general economic conditions such as rising or falling interest rates, or the local business climate such as a new company opening nearby. If, for example, all 20 homes listed plus 5 new listings sell within a few months, then the market has become a sellers' market, where buyer demand meets or exceeds the house-for-sale supply.