Supply Now Exceeds Demand and Buyers Have the Upper Hand!

Buyer’s Market > 6 months home supply
Sellers Market< 6 month home supply The supply of homes for sale now stands at 10.7 months (September 2010). At today's pace of home sales, it will take ten and a half months for existing inventory to sell. What does this mean for buyers?
1. Lots of choices
2. Lots of negotiating power
3. Smart seller fiercely competing by offering great prices and excellent conditions.