Why It Makes Sense To Move Before Spring
Spring is a time of year when the housing market tends to be at its busiest, as many homebuyers believe this is the ideal time to start their search. However, with the influx of buyers in the market during this season, competition can be fierce. If you're eager to purchase a new home, consider making your move before the hustle and bustle of the spring market sets in. By doing so, you'll not only have a head start in your search but you'll also be able to take advantage of a less crowded market, giving you a greater chance of finding your dream home. So, why wait for the spring rush when you can make your move now and beat the competition to the punch!
Spring Should Bring a Wave of Buyers to the Market
The housing market is expected to follow its usual seasonal trends, with a quiet winter period and a surge of buyers in the spring. Currently, demand is still relatively high despite a combination of normal seasonality and the rise in mortgage rates last year. However, with rates declining since November, even more potential buyers are entering the market. This presents a favorable opportunity for those ready to purchase a home before increased competition. Lawrence Yun, Chief Economist at the NAR, expects sales to pick up soon due to the notable decrease in mortgage rates. To take advantage of improved affordability and low demand, now is an ideal time to enter the market.
Today’s Sellers Are Motivated
The winter season brings opportunities for home buyers as low demand in the market often motivates sellers to be more flexible and willing to negotiate. In the fourth quarter of last year, as per Forbes, concessions were made by sellers in 41.9% of home sales. However, this advantage is temporary and may not last for long. As spring approaches, the number of buyers in the market is expected to increase, which will decrease the sellers' motivation to negotiate. It is crucial for home buyers to work with a reputable real estate expert who can provide them with insights and updates about their local real estate market, to make informed decisions and secure the best deal.
Bottom Line
Are you considering making a move in the near future? Timing is everything in real estate, and with the market constantly evolving, now may be the optimal moment to act. By working with a seasoned real estate expert, you can stay ahead of the curve and make informed decisions that align with your home buying aspirations. Let's connect today to craft a bespoke strategy that maximizes your opportunities and sets you on the path to homeownership success.
