Typically spring and fall are hotter than summer when it comes to home sales. But this is not your typical summer. We are coming off one of the toughest economic downturns in recent history, which had both home buyers and sellers sitting on the sidelines, waiting for the market to rebound.
When we turned the corner into 2012, the real estate market turned with it. Buyers that were waiting it out started coming to open houses in droves. Sellers in the meantime – wanting to be sure they get the most return on their investments – have been slower to come to the table. This has resulted in relatively low inventory for a backlog of willing and able buyers ready to find the home they’ve been dreaming of.
Take it from our expert with a nose for real estate, Cooper, the dog days are
over – at least when it comes to selling a home in the summer.
Rather than wait until everyone comes back from vacation, sellers have a unique opportunity to tap into a pool of frustrated buyers that have been stuck looking at a limited supply of homes. Sellers who choose to wait until after Labor Day will likely have more competition and a shorter window of opportunity before things slow down again for the holidays.
A bonus of selling your home in the dog days of summer? Timing open houses and viewings while you are away on vacation equals a lot less stress and hassle.
So as you sip your lemonade and take a dip in the pool, think about where you would like to be 3-5 months from now – settled in your new home? Or just starting to sniff out the process?