Who has the advantage today? Home buyers or sellers?

Believe it or not today we are in a balanced market. This is the first time we have been in a balanced market in over 10 years! We have seen huge swings in the market between the sellers having the advantage when home prices sky rocketed to buyers having the advantage when the market crashed and the number of distressed homes increased greatly. Now there are fewer distressed homes, prices are rising (but will be quickly coming to a steady level in the new year) and there are still buyers ready to buy.
This is a great time to be a buyer and a seller which is great news. Typically those who sell a home will likely turn around and become buyers. Now they don't have to feel as though they got cheated on one end of the deal.
It doesn't always make sense to wait for prices to go up to sell your home because you are likely going to pay more for the home your purchasing. A balanced market is a wonderful place to be and hopefully the market will maintain this balance for a bit.
The chart below shows a map of the monthly supply of distressed properties. Arizona has a 0-3 month supply which is great! We were one of the hardest hit but we were definitely quick to recover which has taken us to our balanced market today.