Housing Market Springs Forward
This weekend is Daylight Savings Time. And just like our clocks, the housing market will soon “spring forward!” However, the lack of inventory of homes for sale is holding the market back.
Many potential sellers believe waiting until Spring is best, and in a typical housing market, they would be right.
Buyer demand has seasonality to it, which usually falls off in the winter months, especially in areas of the country impacted by cold temperatures and snowy conditions.
This year is different! Demand for housing has remained strong as mortgage rates have remained near historic lows.
The National Association of Realtors (NAR) reported the top 10 months sellers listed their homes in 2016 were in April, May or June.
Sellers who act quickly and list now could benefit from additional exposure to buyers prior to a flood of competition coming to market in the next few months.
Real Estate Bottom Line
If you are planning on selling your home in 2017, let’s get together to evaluate the opportunities in our market.