I know it’s been a while since this happened, but the market slows down yearly. It’s not a surprise. It’s actually the norm. It’s one of the things that the pandemic years along with the lower interest rates interrupted.
The normal cycle has two highly active seasons. The spring market and the fall market. If you think about it, it actually makes a lot of sense.
For example, if you have a family with children changing homes is easier after the schools finish. Which is why most families start looking as early as February or March. Especially since one gets the keys to their new home within 60 to 90 days after they agree to buy it. Another thing worth noting is that during spring the weather makes it easier to see homes.
Not to mention that you can use a few days of summer holidays to move into your new home and organize it. Buying in spring makes it also easier to enroll your kids in their new schools for September.
This is why the so-called spring market is by far the busiest season in real estate. As you guessed from the February reference above the real estate spring market starts before spring.
While the fall market is the second busiest time of the year. For many autumn signifies a new beginning. People come back from holidays looking for their new home. Let’s face it. Driving or moving homes in the middle of winter does not seem appealing. Yet moving before the holidays and the new year allows for a fresh start in your new home.
It’s also good to know that the reason the spring market is more busy is because more homes come to market at that time. It is the optimal curb appeal period for sellers. Flowers are blooming. The snow is gone. Everything looks and feels better.
Autumn also has its own appeal. Imagine homes for sale in tree-lined streets. They just look more charming during this season.
So both sellers and buyers are creating the conditions for the spring and fall markets. But remember this. Homes, whether they are condos or houses sell all year round. Your personal circumstances and wishes also may dictate when is the best time for you to sell or buy a home.
#Remember to Say NAI/Yes to Life. Every Single Day.