Be it the weather or the summer vacation around the corner, spring has historically been a good time for the real estate market. According to a report from Forbes, spring is the busiest season when it comes to real estate transactions in the United States.
This was echoed by Douglas Elliman Real Estate Agent Maria Babaev, who said, "Statistically, spring has been the busiest season to purchase a property."
There are many reasons why spring is busy for real estate. One of the reasons is that homes look better during spring. This causes listings to expand and increase available inventory. Alongside this is the increase of potential buyers interested in purchasing a home at this period. With these two factors, home prices naturally would increase as demand increases.
Another factor to consider is the weather for all the activities need to be done in a home purchase. First is the ease of access to get to homes without the hassle of snow or rain. Once a purchase is done, it is also less stressful to move since school districts play an important part in the decision-making process.
Since it is open season for real estate starting late March, RealtorMag published an advisory for both buyers and sellers. For buyers, it is best to shop around for a mortgage first before eyeing a home. For the year, the magazine recommended to purchase either in the Midwest or the South.
As for sellers, the article recommended to list during this period, as many more are actively looking for a home during this period. One way to entice buyers is to provide an incentive for the purchase, and this has been proven effective as of the previous selling season. Finally, pricing your home within the current market rates would help the home to sell quickly.
