Buyer's Market
  
When the buyers have more power than the sellers.
Think about New York City real estate in October of 2001. Lots of nervous nellies wanting to leave the city, scared by the lunatics who bombed it. Tons of property for sale...so it was a buyer's market at that time.
Smart, faithful investors bought...and as real estate prices skyrocketed over the next two decades, they made a killing. The good kind.