Many people know that a large number of homes sell during the spring-buying season. Because of that, many homeowners wait to put their homes on the market until then. However, for 2017 the question is whether or not that is the best strategy.
When the plethora of listings come out this spring it represents increased competition for sellers. But... Are there actually more homes that hit the market during the spring compared to the rest of the year? The National Association of Realtors (NAR) recently revealed the months in which most people listed their homes for sale in 2016. 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 Greenwood, IN, in January was 130.
That number spiked to 261 by May!
What does this mean to you?
Due to the national job situation improving, and mortgage interest rates projected to rise later in the year, 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.
It may make sense to beat the rush of housing inventory that will enter the market in the spring and list your home today.