When Does the “Spring Housing Market” Start?
February 3, 2010 by Danilo Bogdanovic
Filed under Buyer Resources, Seller Resources
Many sellers and buyers are waiting until Spring for the “Spring housing market” to sell their home or buy one. But when does the “Spring housing market” really start?
The most common answer is, “Spring!” Is that correct?
Nope.
The “Spring housing market” has already started. In fact, it starts in January. In the 6 years of being a Realtor, January has been the busiest month of the year for me (and in general) when it comes to buyers house hunting and writing a contract on a new home. The third busiest month? February. (The second busiest month is October)
“Really?”
Yup. And here are some guesses as to why based on what buyers have personally told me…
More time + more money = more buyers in the market to buy a home.
People are busy with end of year work, holidays and their children’s winter break in December. This puts selling their home or buying one on the back burner. Once January rolls around, all of that is behind them and they have more time on their hands so they start house hunting.
December and January also equal Christmas/year-end bonuses. And let’s not forget that many people know they have tax money coming back to them from Uncle Sam soon so the thought of a hefty down payment is a bit more bearable.
What it means to you if you’re a seller
If you’re thinking about selling your home, for these and other reasons, you may want to strongly consider listing your home in January/February (more on this in another post coming soon).
What it means to you if you’re a buyer
If you’re a home buyer house hunting in January/February, know that other buyers are doing the same thing so be prepared for increased competition (aka multiple offers) on properties that are great deals.
If you have specific questions or concerns regarding buying or selling a home or the local housing market in general, click here to email me or call me – 703.582.6900.
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