Yes, can you time the real estate market? Many people assume that, during certain times of the year, they are more likely to get a good deal on a house.
Although there may be some shred of truth to this notion, the truth of the matter is that homes may sell better at certain times of the year, but the likelihood that home prices will nosedive because it is the last week of December probably isn’t all that true.
But it may make sense to sell at a particular time of year because of the convenience factor. Here are a few reasons why:
Many families wait to buy until summertime
Many families of children, of course, may choose to wait until school is out to start house hunting for homes.
After all, moving in the middle of the school year— unless absolutely necessary— just doesn’t make sense for most families. Many markets see a surge in real estate activity in the summertime for this very reason.
That means if you are house hunting in the summertime, there may be more of a demand for homes, and you could face being just one of a few offers on one home.
For competition reasons, if you don’t have to move in the summertime, it may make more sense to wait until fall, for example. For sellers, this may mean your house could sell faster because of the higher demand.
Real estate buyers during the holidays mean business
Many sellers cringe at the notion of listing their home during the holiday season, for a number of reasons. Many families are pulled in multiple directions during the holidays, which may make showing a home and keeping everything neat a difficulty.
Many families also want to be able to enjoy the holiday season in peace, which usually doesn’t happen if their home is listed for sale.
Finally, many sellers assume that real estate activity drops off dramatically at this time, making selling a home during the holidays incredibly frustrating.
However, the truth of the matter is that realtors across the country will tell you that activity rarely comes to a grinding halt during the holidays.
In fact, the opposite is often true. People who choose to buy during this time of year are usually always serious buyers who are ready and willing to make an offer, which could be very beneficial.
