Out With the Old, In With the New

Remember that age-old myth that the spring market is the best time to sell? It simply isn’t true. A recent study by realtor.com confirmed that February of 2019 had more views per listing than any other month. January came in a close second, and it’s been moving in that direction for the past five years, marking a new trend in realty.

What does this mean for you?

Waiting to sell only leads to one thing—more competition. And when there’s more competition, the likelihood the listing will spend more time on the market increases while the chance of maximizing its sale price decreases. With low inventory plaguing most markets around the country, this is the single most convincing reason to get on the move and off the fence and list right now.

To further support this reasoning, here are a couple of statistics. According to Showing Time, 2019 saw a 12.6% growth in home showings nationwide compared to the year prior. There’s a long line of buyers waiting to purchase homes, and they’re not waiting until spring to do it. Millennials are in the buying stage of life, but there aren’t enough homes coming on the market to keep up with the demand. Homes that list in winter sell faster, and you have a recipe for a short and smooth process. In a study conducted by U.S. Dept. of Housing & Urban Development, permits for future home construction surged to a 12-year high. The end of 2019 saw a flood of new construction permits, reaching an all-time high in over a decade. On top of that, housing statistics rose 3.2% to 1.365 million units last month, with single-family construction racing to a 10-month high.

What does this mean for those who wait?

By the spring, many of those new construction homes will be coming to market, bringing a lot of competition from buyers along with them.

The bottom line is…the myth that winter is a bad time to sell is busted, and buyers are so eager to purchase a home, that they never really stopped looking. If you’re looking to sell your house, then now is the time to list! Waiting could mean getting less for your home, waiting a longer time on the market, and having less buying power! Are you ready? “ Let me help you to get moving!”