It is common knowledge that a great number of homes sell during the spring-buying season. For that reason, many homeowners hold off on putting their homes on the market until then. The question is whether or not that will be a good strategy this year.
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 the months in which most people listed their homes for sale in 2017. 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 1,680,000.
That number spiked to 1,970,000 by May!
Listings that do come out in the spring can most certainly expect increased competition for any seller.
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 homes right now. Plus, with the winter we’ve had, there is definitely pent up demand for buyers. If you are looking to sell this year, waiting until the spring to list your home means you will have the greatest competition amongst buyers.
Why not beat the rush of housing inventory that will enter the market in the spring and list your home today?