Why It Makes Sense To Move Before Spring

Spring is usually the busiest season in the housing market. Many buyers wait until then to make their move. They believe it’s the best time to find a home. However, that isn’t always the case. You need to factor in the competition you could face with other buyers at that time of the year. If you are ready to buy a home, here’s why it makes sense to move before the spring market picks up.

Spring Should Bring a Wave of Buyers to the Market

In most years, the housing market goes through predictable seasonal trends in activity. Winter is typically a quiet point in the year. Spring sees a surge of buyers begin their search. And, experts project that this year will be no exception.

Right now, buyer demand is low due to a combination of normal season trends and a reaction to last year’s rise in mortgage rates. But rates have started to come down since last November. More and more potential buyers are planning to jump into the market. That means right now is a sweet spot if you are in a good position to buy, before more buyers reappear. Affordability is beginning to improve, but demand is still low for now. If you are ready to buy a home, now is the best time to do so before your competition grows and more buyers enter the market.

Today’s Sellers Are Motivated

Low demand from buyers often means sellers are more motivated to work with you. In fact, sellers have been more willing to negotiate this winter because there are fewer buyers in the market. According to a recent article from Forbes “sellers gave concessions to buyers in 41.9% of home sales in the fourth quarter of last year.” But keep in mind, the advantages buyers have this winter won’t last forever. The competition you face could be greater if you wait until spring to make a move. Increased buyer demand means sellers will have less motivation to negotiate with you.

Bottom Line

If you are in a good position to make a move, it may make sense to move before spring. Working with me is the best way to learn about the current market and what it means for you.