SOURCE: KEEPING CURRENT MATTERS via keepingcurrentmatters.com
Many people believe that selling their house during “the spring buyers’ market” is the best thing to do. Their reasoning is that there will be more buyers than there are during the winter months and, therefore, their house will sell quicker and for a higher price.
“With housing inventory still at record lows, the demand for homes is still at a record high which increases buyer competition. Add to this good weather conditions and you have the perfect reasons to list your home now. Generally speaking, homes sell more quickly this time of year when there are blue skies and blooming flowers. Spring is often the time we have the most appreciation in home values. Educated sellers know this which is why they list their homes in the spring, making now the perfect time to sell.” – David Kerr, Senior Sales Associate
Historically, this made sense. However, today’s real estate market is not following the rules of the past.
The National Association of Realtors (NAR) measures buyer “foot traffic” each month. It receives data on the number of properties shown to a prospective purchaser by a Realtor® (based on the number of lockboxes used). The data reveals the number of buyers out actively looking for a home, not just window shopping on the internet. NAR explains:
“Foot traffic has a strong correlation with future contracts and home sales, so it can be viewed as a peek ahead at sales trends two to three months into the future.”
According to the latest Foot Traffic Report, buyer traffic is greater now than it was during this year’s spring market and there are more buyers out now than at any other time in the last five years (March of 2012).
If you are waiting for next spring to list your home because you think that’s when the buyers will be out in force, perhaps you should reconsider. Buyers are out right now!