It’s well known that the housing market is constantly fluctuating throughout the months and years, but knowing why this happens can be confusing. Whether you’re interested in the best month to sell a house or, equally as important, the worst month to sell a house, it is crucial to understand the forces that cause the difference. Believe it or not, the seasons play a big role in the housing market and we have all of the information on how this phenomenon works. Read below to learn more about real estate seasonality and how to properly navigate the housing market throughout the year.
Know Your Local Real Estate Market
Seasonality in the housing market can either help you or hurt you, depending on what moves you make at which time. To be on the winning side of this seasonal trend, you must know your local real estate market – the best months to sell a house and the worst months to sell a house may vary depending on the area you service. The best option is to research and study real estate data that is easily available to you online. By learning the unique characteristics of your area, you can better service your clients by understanding how seasonality plays a role in your town.
The most basic piece of information that you need to understand is that seasonality varies from one location to the next and each market has its own nuance. For example, many hot-weather destinations like Florida and Arizona experience a snowbird effect during the winter. Because the weather in these locations tends to be warmer than most during the winter season, you see an influx of people from colder regions moving there to either relocate or buy a second home.
On the other hand, cold-climate places like Colorado face the opposite effect. Seasonality affects their housing market negatively by slowing down the rate of home sales. No matter which region you service, make sure to have a firm grasp of your individual housing market to ensure your clients are happy.
Image: Pixabay
