1511 Locust St Unit 807, St Louis
Understanding the Market: a buyer's market
The real estate market is fluid: its ever changing, and no market is exactly the same as another. Markets have nicknames though, which are handy descriptions to let people know, generally, what the conditions of a market are. Two popular nicknames are "buyer's market," "balanced or neutral market," and "seller's market." A Buyer's markets is a real estate market that is most favorable to buyer's needs. The standard used professionally is that a buyer's market means there is 7 or more months of homes available (called inventory).

During the great recession of 2008 and the subsequent real estate market slide, some market's had a year or more of backlogged home inventory. Most of that was reversed after the market began its rebound in 2012.