A more thorough explanation:

A seller's market is a situation in which the demand for a product or service is greater than the supply, resulting in higher prices and more favorable conditions for the seller. In other words, the seller has the upper hand in negotiations because there are more buyers than there are available goods or services.

For example, in a seller's housing market, there are more people looking to buy homes than there are homes available for sale. This can lead to bidding wars and higher prices for homes. Another example is a seller's job market, where there are more job openings than there are qualified candidates to fill them, giving job seekers more leverage in salary negotiations.

These examples illustrate how a seller's market can create a competitive environment where buyers may have to pay more or offer better terms to secure the product or service they desire.