In Real Estate, the spring is often seen as the ideal time to buy or sell a house. The term “Spring Buyer’s Season” exists for a reason, as renters and those looking to move on from their current home thaw out from the winter and hit the market ready to buy. Hence the phrase for Realtors- “When the Birds start to sing, the Phone starts to Ring!”
According to Bank of America’s annual Homebuyer Insights Report, 41% of renters surveyed agree that Spring is the best time to buy a home. The surprising result, however, is that when ranking the seasons, Winter comes in second at 24%. That percentage is greater than either Summer or Fall!
In many areas of the country, the spring and summer are the most competitive seasons for buyers. Families with children often want to move over the summer to make sure that their kids are ready for school in the fall. This often leads those families who haven’t found homes to buy to push pause on their search in the fall and winter months.
This creates a great environment for buyers to find a home with less competition.
According to moving.com, scheduling a move during the winter months also comes with the best price.
“If you define ‘best’ by cost then, generally speaking, you are more likely to save on a move during the late September to April window. Demand for movers usually slows down during this time frame and rates are low.”
There are also many benefits to listing your house for sale during the winter months as well! In my experience, buyers who are out in the winter are serious about wanting to find a home, and there is traditionally less competition on the market, which gives you greater exposure to those buyers. Housing supply traditionally shrinks at this time of year, so the choices that buyers have will be limited. Many sellers believe that spring is the best time to place their homes on the market because buyer demand traditionally increases at that time of year, but what they don’t realize is that if every homeowner believes the same thing, then that is when they will have the most competition! It also gives a Seller a chance to show their home with beautiful Holiday decorations on display.
The Bottom Line
As always, the best time to buy or move all depends on each individual buyer or seller’s goals and needs. If you are one of the many who would like to make a move this winter, contact me and my team! I can help you create a plan to make it happen!
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