Just a few days into spring, flowers are beginning to bloom and the birds are looking for a place to make their nest. Growth and potential is all around, and the air buzzes with the energy that drives it. The same goes for the housing market.
Potential lies just beneath the surface, where sellers are waiting for the “right” time to list their homes for sale. Historically, sellers have waited for the spring thaw to list their homes for sale, based on the winter decrease in buyer demand.
The seasonality of home buying has favored spring for home sellers, but this year is a little different. There has been no such lag in buyer demand this winter. Demand remains strong and currently stands at 3 times higher than it was last year at this time. With strong demand comes greater potential to sell your home in your expected timeline.
But spring is still the favored timeline for selling a home. The National Association of REALTORS (NAR) recently reported that the top 10 dates sellers listed their homes in 2014 all fell in April, May or June.
If you are looking to sell your home, now is the time to list it.
By June the market will be flooded with the other sellers waiting for the spring break to get their home sold.
And don’t forget to meet with your mortgage banker to get pre-approved for your next purchase.
Just because you purchased once doesn’t automatically qualify you to buy again. Being prepared will allow you to move quickly and ensure a smooth closing.