Everyone knows that lots of homes sell during the spring-buying season. Because of that, many homeowners hold off on putting their home on the market until then. The question is whether or not that will be a good strategy this year.
The other homes that hit the market in the spring will represent increased competition to any seller. Do 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 showed which months most people listed their home in for 2015. 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 1,860,000.
In May that number spiked to 2,280,000!
What does this mean to you?
With the national job situation improving, and mortgage interest rates projected to rise later in the year, and coming off a year of low inventory of available homes, 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.
Bottom Line
It may make sense to beat the rush of housing inventory that will enter the market in the spring and list your home today. Ready to talk about listing or get prepared? Call me, Troy Stavros with Gables & Gates, REALTORS today at 865-777-9191 to get started!