A buyers' market is a term used in the real estate industry to describe a situation where there are more homes for sale than there are buyers interested in purchasing them. In a buyers' market, the supply of homes exceeds the demand, which gives buyers an advantage during the negotiation process. This means that buyers can often purchase homes at a lower price than they would be able to in a sellers' market.

One of the key factors that contribute to a buyers' market is an increase in housing inventory. This can happen for a variety of reasons, such as a downturn in the economy, increased interest rates, or a decrease in population. When there are more homes available for sale than there are buyers, sellers are often forced to lower their prices and negotiate with buyers to make a sale.

In a buyers' market, buyers have more options to choose from, which means that they can be more selective in their choice of homes. They can take their time to view multiple properties and compare prices, without feeling the pressure to make an offer quickly before the property is sold to someone else. Buyers can also negotiate for better terms and conditions, as sellers are more willing to make concessions to close a deal.

Another advantage of a buyers' market is that buyers can often get better financing deals. Lenders may be more willing to offer favorable terms, such as lower interest rates or more relaxed lending requirements, to attract more buyers to the market. This can make it easier for buyers to secure a mortgage and purchase a home that they may not have been able to afford in a sellers' market.

In summary, a buyers' market is a situation where there are more homes for sale than there are buyers interested in purchasing them. Buyers have the advantage in negotiations, as they can be more selective and negotiate for better terms and prices. A buyers' market can also provide opportunities for better financing deals and the ability to purchase a home that may not have been affordable in a sellers' market.