It is common knowledge that a large number of homes sell during the spring-buying season. For that reason, many homeowners hold off on putting their home on the market until then. However, that's not going to be the best strategy this year.
The influx of new listings that do come on the market in the spring represents increased competition to any seller. Do a greater number of homes actually come to the market in the spring, as compared to the rest of the year? The National Association of Realtors (NAR) recently revealed which months most people listed their home in for 2015. Here is a graphic showing the results:
The three months in the second quarter of the year (represented in red) are consistently the most popular months for sellers to list their homes on the market. Last year, the number of homes available for sale in January was 1,860,000.
That number spiked to 2,280,000 by May!
What does this mean to you?
With the national job situation improving, and mortgage interest rates projected to rise later in the year, buyers are not waiting until the spring. They are out looking for a home right now. If you are looking to sell this year, waiting until the spring to list your home means you will have the greatest competition for a buyer. If you sell your home before spring hits, you have less competition while buyer demand is still high, which could result in a faster sale at a higher price.
If you're thinking of selling, it may make sense to beat the rush of housing inventory that will enter the market in the spring and list your home today.
For more information, call or text Eric Lowry at 513-368-3751
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