Anecdotally we are feeling it locally but in some markets across the nation the statistics are showing it, we are moving toward a buyer's market in real estate. Locally we have noted buyers asking for more and more in the way of concessions be it a lowering of price or, more commonly, paying for closing costs or getting repairs done. Statistically, economists want to see at least 6 months of inventory before they call it a buyer's market. Last I saw we are around 3 months in San Diego County however that can be a long time if you are a seller when only a few years ago things were sold in less than a week. Looking for a deal? Perhaps check out one of the true buyer's markets noted in this Realtor.com article.
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