When we’re in a seller’s market, we experience very quick sale times, increasing prices, a low rate of new listings, and a transaction in which the home-owner (seller) is at an advantage throughout the process of selling their home.
When there aren’t many homes for sale, buyers are more willing to bend to the whim of the seller because they know that if they don’t, there’s another buyer standing right behind them that will. So, seller’s have an advantage, and can typically negotiate terms in their favor over the buyer.