Attorney and columnist Robert Bruss believes that a buyer's market, generally, can be defined as a "normal" market. Over the forty years that he's been a real estate investor, he insists, only about 25% of the time was the market characterized by multiple offers and rapid sales and skyrocketing appreciation rates. It's been normal, he claims, to see homes on the market for two to six months and to see the annual appreciation rate hovering slightly below 5%--or, when higher, generally a bit above the rate of appreciation.



But it's crucial to add that what is happening in one market may differ from what is happening only a zip code away. You should check each market, rather than generalizing, when deciding on the price you can afford to pay today.



The "Bruss Rule" looks like this. First, check how long it has been taking on average for the houses that come to market in a particular area to sell. If it's above 60 days, it can be characterized as buyer's market in that area. Second, check the number of homes listed for sale in the area as against the number of sales that closed, and you will gain an idea of the number of months' worth of inventory coming to market. If it's more than six months, Bruss argues the area is experiencing a buyer's market−which is a "normal" market with its own strategies and opportunities. For help call Beth at 425-450-5208.