What characterizes a "flexible market" in real estate?

A "flexible market" in real estate is best characterized by an abundance of supply and low demand, which often leads to lower prices. This situation allows for greater negotiations and options for buyers, as there are more properties available than there are interested purchasers. When the market is flexible, buyers can find better deals and sellers may need to adjust their pricing to attract potential buyers, creating a dynamic environment.

In contrast, high demand coupled with limited supply typically leads to a more competitive market where prices rise, suggesting a constrained or firm market rather than a flexible one. Similarly, a steady market with moderate supply and demand does not imply flexibility; it indicates equilibrium where both buyers and sellers have stable expectations. Lastly, a market dominated by luxury properties reflects a more niche market rather than a flexible one that serves a wider range of buyers across different price points. Therefore, the abundance of supply and corresponding lower demand truly captures the essence of a flexible market in real estate.