It is common knowledge that a great number of homes sell during the spring-buying season. For that reason, many homeowners hold off on putting their homes on the market until then. The question is whether or not that will be a good strategy this year.
The other listings that do come out in the spring will represent increased competition to any seller. Do a greater number of homes actually come to the market in the spring as compared to the rest of the year? The National Association of Realtors (NAR) recently revealed the months in which most people listed their homes for sale in 2017. Here is a graphic showing the results:
The three months in the second quarter of the year (represented in red) are consistently the most popular months for sellers to list their homes on the market. Last year, the number of homes available for sale in January was 1,680,000.
That number spiked to 1,970,000 by May!
What does this mean to you?
With the national job situation improving, and mortgage interest rates projected to rise later in the year, buyers are not waiting until the spring; they are out looking for homes right now. If you are looking to sell this year, waiting until the spring to list your home means you will have the greatest competition amongst buyers.
It may make sense to beat the rush of housing inventory that will enter the market in the spring and list your home today.
Author:David Garves Phone: 763-221-5834 Dated: March 6th 2018 Views: 99 About David: ...
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John Murphy has been a licensed REALTOR since 2003 and a licensed broker since 2007. He is consistently one of the top agents in the area. He focuses on the western suburbs of Minneapolis and works with buyers, sellers and real estate investors.
He is married to his college sweetheart of 29 years, Janet Murphy who helps with staging and interior design. They have 6 children - 3 boys and 3 girls - and have lived in Medina, MN since 2003.