Spring is coming, spring is coming! At the risk of jinxing our progress in the weather department, I dare say it’s time to store the snow shovels and start thinking about unearthing the spring clothing bins from storage.
With the warmth of spring upon on, our mindsets begin to shift. Without the bitter cold and snow keeping us cooped up, our minds are free to explore the new season (officially starting March 20th this year): SPRING.
If you’re considering making a meaningful move this year, spring may just be the perfect time to do it. While there are many factors that may affect the housing market, seasonality is one of the big ones. Don’t get me wrong, homes still sell in the winter months. But there is a major shift in the market when the cold subsides, and the weather warms up.
Spring Season Is Tax Season
Real estate and home ownership are a large investment. For many, tax season means getting tax returns from the government. It’s not uncommon for me to see tax refunds put to good use by funding down payments on a new home.
Summer Vacation? More Like Summer Vacancy…
Many families with children prefer to wait until school is out of session to make their meaningful moves. To take advantage of a summer closing and move date that benefits your family’s schedule, starting the selling and searching process in spring is ideal.
Warm Weather, Warm Leads
The National Bureau of Economic Research has conducted research that suggested that warm weather can have a positive impact on the signing of a sales contract. Also, data from sources like Zillow suggest that real estate inventory moves faster in warmer climates during the winter season. However, when cooler climates are enjoying their spring and summer weather, there is often no substantial variation in how long homes are on the market compared to warmer climate areas.
So, what does it all mean? Warm weather can bring warm leads – buyers and sellers alike are psychologically ready to imagine themselves in a new home.
Considering listing your home? Read my Local Market Update for the beginning of 2019.
Preparing for a move? Check out my tips on preparing your home for listing.
Ready to move? We’re ready to help! Working with the Mike McCurry Group ensures you will have access to 29 years of full-time real estate expertise and insights into the considerations that make our market unique. When selling with our group, you’ll benefit from our proven selling and negotiating strategies, a team that’s knowledgeable about current market metrics, and the support of professionals who understand your unique needs and goals.
We’d be honored to help our neighbors make some meaningful moves!