Buyers Market In The UK
The power of the market is evident in England where a multi-year boom in house prices is unraveling. "The ratio of completed sales to the numbers of property on estate agents books fell to 27%, its lowest level since 1996...Buyers are holding back expecting prices to go lower, and properties are sticking."
The strong psychology of a mania is playing out in reverse, along with headlines like this, Panic selling as house prices slide. And the fear of paying too much is taking over,"it is now a buyers' market as people can pick and choose from a rising number of properties."