Legal Definitions - buyer's market

A buyer's market is a situation in which there is more supply of a product or service than there is demand for it. This results in lower prices and more bargaining power for buyers.

For example, if there are many houses for sale in a particular area but few people looking to buy, it is a buyer's market. Buyers can negotiate lower prices and better terms because there is more competition among sellers.

Another example is the job market. If there are more job openings than there are qualified candidates, it is a buyer's market for job seekers. They can negotiate higher salaries and better benefits because employers are competing for their skills.

Overall, a buyer's market is a good situation for buyers because they have more options and more power to negotiate favorable terms.