Supply and demand is everything when it comes to buying and selling anything including real estate. When you have more buyers out there than you have property for sale, then this results in prices going up during a seller's market. On the other hand when you have more properties for sale than you have buyers, then this results in a buyer's market where prices are driven down. It's not a complicated dynamic to understand, but it's an important concept if you have any type of dealings in real estate.
Now before you make an ironclad decision to wait for the market to be in your favor, you need to remember that there are always exceptions. For example, if you are selling a home and keeping it until the market shifts to a seller's market it's going to be a burden, you might want to cut your losses and sell the home now with a cash buyer like Rise Real Esate Group
. Instances, where this may be the case, include if you have a rental that you cannot find tenants for, if you have inherited a home, or if you no longer live in the area and don't want to deal with the hassle of renting a home. As a buyer, you generally want to wait until the real estate market is in your favor, but there are exceptions of course. If you find your dream home and don't mind paying a little more for it, then this would be an example of when you would make an exception.