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Is it a buyer's market?
Having lunch with some friend, I was asked about the real estate market.  "Is it a buyer's market?" he asked.  I paused as I gave it some thought, "It's a tough market"  So he asked again, "but, is it a buyer's market?"  I answered the same again, "It's a tought market", then he asked why.  I said "It would be a buyer's market because there are so many houses available and the interest rate is really low, however there are few buyer's that qualify.  They need to have 3-5% down, which most first time homebuyers don't have in this economy, plus they need a 680 credit score or better.  So that's why I stated that it's a "tough" market, but it could be a buyer's market.
I got a report in my email that our nation had over 4 million homes availble for sale.  Is it a buyer's Market?
 
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