When the epidemic hit, the housing market lost its usual seasonal trends. There was always a buyer out there since houses were in such high demand. Now that things have calmed down a little in the housing market, time is once more becoming a major factor for house sellers.
As per a 2022 analysis by research , sellers may make thousands more even if they sale during the high seasons of May, April, and June instead of the two weakest months of the calendar year, October and Dec.
LIn September, seller prices normally begin to fall, falling to a median of 7.9 percent from a high point of 15.1 percent in May. It’s reasonable to assume that by that time, most families with school-aged children will have already found a house.
When the beginning of the new academic year coincides with the beginning of the hectic holiday season, homeownership tends to take a back seat.
The weather is an issue in the winter just as it is in the summer. As the days become shorter and the weather grows colder, most people prefer to spend their time inside. This implies fewer potential customers for shop owners.
According to various research, Oct is the most challenging month to sell a home, with a seller premium of 5.2%. The prices of these premiums don’t rise much in the following months. In general, home-buying activity slows down significantly in December due to individuals being away from their homes for the holidays.
However, if you’re in the market to purchase a home, you may be surprised to learn that the colder months are really prime time to look. Since there are fewer potential buyers, the sellers may be more amenable to lowering the asking price or making other concessions.
If you’re trying to decide when is the ideal time to sell a property in your market, keep in mind that even a few months might mean the difference between a few hundred dollars in loss or gain. Refer the link below