How the seasons impact your housing market

 

 

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investopedia.com

 

 

Even though you might not think it matters, seasons can have an impact on how you price your home on the market or how much you invest in purchasing a home. Seasons really do influence the prices even as much as 10%. Knowing the best time to sell your home can increase the sale price of your home and take the stress out of the process. Many say the ideal time to sell your home is during spring around the month of May. It’s the peak season for metropolitan real estate sales and when the weather is pleasant, and the children are out on vacation. People find it easier to move at that time because they can relocate before beginning the new school year starts. Warmer weather also seems to draw buyers on the streets and into open home revisions. The gardens and yards tend to look nicer in the springtime and many buyers want to settle into their new homes before the festivities.

Know your real estate
Marketing seasons vary from location to location and each market has its own gradation. Northeast regions are flooded with people who are relocating or looking to buy a second home. Cities like Denver when the season of cold climate comes, the market for home sales slows down rather quickly. It’s important to recognize the factors that influence your area so you can better understand the influence of seasonal movements on the housing market.

Main factors in seasonal markets

Even though the weather is something that will differ in every market, there are some factors that contribute to seasonal movements in the marketplace. One of them being the school year and the other the holiday season. They both have a major influence on how many people are selling their homes and how many people are looking to buy a home of any given market. Sellers and buyers who have children will usually wait until their children are out of school since that will give them more time to move and will give the children a fresh start once the next school year begins. Studies have also shown the busiest seasons for moving are during the summer with June being the busiest. Indicating that people are looking to buy a home towards the end of the school year as the summer ends. In addition, it is likely that you will find people moving during the holiday season which falls in the months of November-January. In addition, people don’t want to add the costs of moving to an already hectic holiday season filled deadlines, family, unpredictable weather and more.

Make the most of your season
For those who are looking to buy a home, the best way to know when or if the season will affect your market is to talk to your broker. They should provide you with market metrics for your area, so you can keep track of the fluctuations of average sales for each month in the city that you are looking to buy your new home. Comparing will help you identify the high and lows and determine where there are sales on homes in your market. Once you have established your seasonal market, don’t let the adversity keep you on the sidelines.

 

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