Are you curious if now is the right time to buy or sell, or should you wait until the next season? In this video, I’m going to give you my expert opinion on whether now is the right time to buy or sell. We’ll look at some common misconceptions about seasons in the market to help you make the best decision for your future.
Which Season Is Best?
One of the biggest questions I’m getting right now from people is if they should wait to buy or sell until the spring, the summer, or the fall. A common misconception in our real estate market is that there’s some type of seasonality to it. In fact, there hasn’t been for many years.
The best time to buy is really when it’s the right time for you. We can’t predict when that perfect house is going to come onto the market. One of the reasons this misconception has arisen is that there are more real estate settlements in October and April. This cause a lot of people to think that selling or buying in the fall or spring is the best.
However, you have to understand that when the real estate settlement happens in October, all those houses were put under contract in July, August, and September.
Today’s Market
In today’s market, we’re not seeing an influx of inventory. If you’re a buyer, it really doesn’t make any sense to wait for more houses to come onto the market because we don’t anticipate that happening. It has also not happened in 6+ years.
If you’re selling your house, that means you need a buyer. Again, we can’t predict when the right buyer for you is going to be searching for a home. We also can’t predict what their life circumstances are going to be that will cause them to look for your home.
Beating The Competition
If you’re selling your home, the most important strategy is to list it at a time when there’s the least amount of competition. We have a lot of sellers who think that spring is the right time. For whatever reason, everybody thinks that all the sellers list their houses at the same time and that they’re all competing against each other.
If you really want to make a wise choice, you would list your home when there are no others like yours on the market and you have no competition. Right now, you don’t have to worry too much about that. Because inventory is so low, just about any time of year is going to be a really great time for you to sell your house.
One more note on this is that the market tends to change, but not due to seasons. If there’s a major increase in interest rates or some other economic condition that’s going to affect the market, it can happen at any time of the year. It doesn’t matter whether it’s cold outside or hot outside; the market changes when the market changes, not when the season changes.
Making A Plan
All that being said, you can still strategically plan before you buy or sell a house. If you’ve already decided that the spring, fall, summer, or winter is right for you, we can take the next months to plan accordingly. We’ll put you in the position to buy or sell so everything goes very smoothly when that time arises.
I can give countless examples of when a client thought that a particular time of year was the wrong time of year. For example, a lot of people think they should stay away from the holidays when selling. However, that’s a really great time to sell. People have off from work, and there’s not a lot of competition from other properties.
For buyers, it’s a great time to buy because it’s easier to get into properties and see them during that time of year. I wouldn’t get caught up again in the seasonality or the holidays or the weather conditions; you need to focus on what’s best for you and what the actual market or economic conditions are at that time.
I’m Here To Help
I hope I was able to answer your question about what season is the best time to buy or sell. If you have any other questions, feel free to reach out to me and I’d be happy to help.
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