The price is lower than the price balance is the amount of purchase (demand) is greater than the amount offered for sale (supply). Any price lower than the price balance will cause excess demand.
The equilibrium price is lower than the number of offers to buy (demand) than the proposed sale (supply) any price below the equilibrium price will cause excess demand.
The price is lower than the equilibrium price is the number of offers to buy (demand) than were offered for sale (supply), any price lower than equilibrium price will cause the excess demand.