In a buyer's market, what advantage do buyers typically have?

In a buyer's market, buyers typically enjoy greater negotiating power because the supply of homes exceeds the demand. This situation arises when there are more properties available for sale than there are buyers, leading to increased competition among sellers to attract prospective purchasers. As a result, buyers have the leverage to negotiate better terms, such as lower prices or additional concessions, since sellers are often more willing to make compromises to finalize a sale.

In contrast, the other options describe conditions that do not typically exist in a buyer's market. A buyer's market would not have less supply of homes, as that would imply a seller's market where demand outstrips supply. Additionally, property prices tend to be lower in a buyer's market due to the surplus of homes, not higher. Lastly, access to financing options is generally not limited in such conditions; if anything, lenders may be more willing to offer financing as a way to attract buyers in a competitive landscape. Therefore, the scenario underscores the advantages that buyers experience in negotiations during a buyer's market.