Is the real estate market a buyer's or seller's market right now?

[Joshua McMillen]

I want to get into real estate (duplex or single family rental properties) in Tx, and people in real estate have been saying the market will become a buyer's market soon. I have a good amount for a down-payment, but do not know if I should postpone buying my first property or pull the trigger? Currently, majority of the options are on the market for a few days to a week or two in my area.

Thank you!

[Mike Terry]

Hi @Joshua McMillen.  To answer your question.  In general most markets are in a sellers market.  Of course all real estate is local.  IS your market experience decreasing supplies (measured by listing), bidding wars, multiple offers, high percentages of cash deals, decresing days on market, rising median home prices.  If so this and other anecdotal evidence would point to a sellers market.  AS for the future, I have no idea and neither does anyone else. It stands to reason that the market will slow at some point, but we are also in unprecedented times and may be subjected to significant inflationary pressures.  Tyring to predict the future is a fool's game  If you trying to by, be patient, analyse a lot of deals a good one will come along and the numbers and condition of the property will help it stand out to you.  There are always deals out there if you are patient and work at it.  Good luck!