A seller’s market occurs when demand exceeds supply. There are more interested, active buyers than there are quality deals on the market. In a seller’s market, buyer’s compete in order to win deals. This typically translates to increased values and more favorable deal terms for the seller.
Q1 2023 shows a significant dip in seller market sentiment. These are the lowest levels seen since the pandemic and are relatively on par with numbers we saw in early 2013 and 2014 as we were recovering from the Great Recession.