Everyone knows that more homes hit the market in the spring homebuying season. That’s why so many homeowners wait to list their houses until spring. This brings up an important question: Is waiting for spring a smart strategy this year?
In the spring, an influx of listings appears to flood the market with home sellers. Recent data from the National Association of Realtors (NAR) helps clear up any confusion. Are there really more homes on the market in the spring season compared to other times of the year?
These are the 3 months with the most seller competition
According to the NAR, most sellers listed their homes during these months in 2018:
Just three months into the year’s second quarter — starting in April — is a popular time for sellers to start listing. In January of last year, there were 1,520,000 houses for sale. That number jumped to 1,870,000 in May 2018.
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If you’re hoping to sell your home this year, consider that many buyers are hitting the market early. They’re not waiting for spring. Hiring is stronger, and mortgage rates are only expected to rise within the year. Interested homebuyers are shopping now instead of later.
The cherry on top of your mortgage
So about getting you home faster. Once you’re ready to sell, things can move quickly, so it also helps to get ready to buy. LoanFly’s fast, friendly, and easy loan prequalification is not like the other guys. LoanFly is a complete, all-in-one homebuying and mortgage app – instead of an impersonal link to an online form. Click here to get the answer to the question: How much can I afford to buy?
For educational purposes only. Please contact a qualified professional for specific guidance.
Sources are deemed reliable but not guaranteed.