1. Study Market Indicators:
- Supply versus Demand: Are more houses for sale than buyers, or vice versa?
- Price Trends: Are prices rising, falling or stable?
- Days on Market (DOM): How long do listings stay up before selling? Faster sales usually mean high demand.
2. Know the types of Markets:
- Buyer’s Market: More homes for sale than buyers- prices drop.
- Seller’s Market: More buyers than homes – prices rise.
