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Jeanne Jordan | Lombard & Villa Park Real Estate, Dupage County

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What makes this currrent market a “buyer’s market?”

buyersmarket1Buyer’s and seller’s markets are determined primarily by the amount of available inventory (houses on the market).

A seller’s market would have less than five months of inventory. A balanced market would be five to seven months inventory, and a buyer’s market would be seven or more months of inventory. The high inventory drives the prices lower. So the combination of a large inventory and lower prices result in the “buyer’s market.”

Typically in a buyer’s market mortgage interest rates would rise. However,  this buyer’s market is also enjoying historically low interest rates… which really does make it a great time to buy!

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Jeanne Jordan
Realtor, author, wife and mother.

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