What does a buyer's market indicate regarding supply and demand?

A buyer's market indicates low demand with high supply. In this context, the supply of available properties is greater than the number of buyers looking to purchase them. This imbalance typically leads to more choices for buyers and often results in lower prices, as sellers may need to reduce their prices to attract interest in a market characterized by an abundance of options and fewer purchasers. Consequently, buyers have greater leverage in negotiations, and sellers may find it challenging to sell their properties at desirable prices. Understanding the dynamics of a buyer's market is essential for real estate professionals, as it directly influences pricing strategies, marketing approaches, and overall market trends.