Is Fall the New Spring Housing Market?

     

    You’ve heard that the spring season is the time of year to sell your home, right? It’s true, spring is a hot period for real estate, but there are opportunities to sell your home outside of those three months.

    In fact, sales figures are increasingly showing that another season is quickly gaining ground as a great time for home sales. Yes, the fall is getting noticed.

    Why the jump in popularity? It’s a difference in buying markets.

    More and more, the spring market remains incredibly strong with families who are looking to buy their next house before the upcoming school year — and ideally before they head out for summer vacations. The fall, meanwhile, has become a popular home-buying time for all other buyers who don’t need to let the school year dictate their purchasing decision and can avoid the extra competition of the spring. That makes Fall a great time to sell!

     

    Reasons to sell in the Fall:

    • Demand is Strong: Buyers are out in force looking for their dream homes! Buyers are often competing with one another for the listings that are available.

     

    • There is Less Competition Now: Housing inventory is still under the 6-month supply that is needed for a normal housing market. This means that, in the majority of the country, there are not enough homes for sale to satisfy the number of buyers in the market.

     

    • There Will Never Be a Better Time to Move Up: Prices are projected to appreciate over the next year. If you are moving to a higher-priced home, it will wind up costing you more in both down payment and mortgage payment, if you wait.

     

    • It’s Time To Move On: Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Perhaps the time has come for you and your family to move on and start living the life you deserve.

    What does this mean for you as a seller?

    It means if you’re looking to sell your house, fall may be a more attractive time to do so than ever before. Competition in the market is increasing, but many home sellers still do not list their home during the fall months and choose to wait for spring again. This in turn means less competition for you and hopefully more and better offers.

    If you do decide to list in the fall, be prepared that things can move more quickly, as many buyers and sellers want to have the transaction complete before winter. This could lead to faster, better offers, so if you receive an offer you like, don’t be afraid to take it and complete your fall sale as quickly as possible.

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