It is common knowledge that a large 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.
The other listings
that do come out in the spring will represent increased competition to
any seller; do to the fact 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 2016. 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 1,820,000.
That number spiked to 2,140,000 by May!
What does this mean to you?
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 a home right now. If you are looking to
sell this year, waiting until the spring to list your home means you
will have the greatest competition for a buyer.
It may make sense to beat the rush of housing inventory that will enter the market in the spring and list your home today.