Pendulum is swinging back toward the buyer

The Boston Globe reports:

The spring house-hunting season, traditionally real estate's busiest time, is already off to a strong start due to the mild winter.

But unlike recent years, home buyers have the upper hand, as the recent slowdown in real estate has resulted in a huge inventory of houses and sellers anxious to make deals. Analysts say that well-informed, flexible buyers will be in the best position to negotiate and capitalize on current market conditions.

''While buyers are under less pressure to make quick decisions, there are many more homes to choose from and thus more homework involved," said David Wluka, president of the Massachusetts Association of Realtors.

So buyers: Be patient, but be ready to strike. Get preapproved for a mortgage and have other financial paperwork ready. Take advantage of a seller's calendar; if, for example they're itching to move, or want to wait until the school year ends. Get to really know an area, what's available there, and how home prices have moved recently. And, get help -- a buyer's agent, that is.

The number of homes and condominiums for sale rose 40 percent in February from the year-ago period. The single-family-housing market has been flat, with prices in many markets falling slightly or barely moving. The condo market, meanwhile, seems to be holding up slightly better.

The turn in the market.