It has been a tough winter this year with consistent frigid temperatures, snow and ice. If you’ve been planning to list and sell your home this year, you might be on the fence about when to put it on the market – winter or spring. What do we say?List it now in winter!
When exactly is the real estate spring market?
Good question. It is definitely not in March. After the holidays and the new year has arrived, many people begin their home search. They start looking at homes on the Internet and then head out to see those of interest. These buyers are not waiting until the spring flowers appear.
Why? Mortgage rates are still low (with expectations of rising sometime throughout the year) and home prices are now starting to rise. Combine these two factors with a pent up demand for homes and you can see that people are eager to buy homes.
During colder months, there are not as many homes on the market and thus less competition of homes for sale. If your home has similar features to many other homes, having less competition can be a very good thing.
Are there less buyers during colder months? Maybe. But, on the other hand, those buyers who are braving the colder temperatures to look at homes are serious about purchasing a home.