Along with lighter clothing, blooming daffodils, and pastel color palettes, another sign that spring is approaching is a fresh breeze of activity in the housing market. For a variety of reasons, the months between April and June are sunny spots in the buying and selling calendar year.
As you begin to hear the chipper chirping of spring sparrows, remember these reasons a little bird shared about why spring might just be the best time for success in the housing market.
- Holidays. The fall and winter holidays are long gone, and with it the hustle and bustle of commitments that deter homeowners from moving. School years are coming to an end, making it an attractive time for families with children to uproot their lives before settling into a new routine. In addition, spring is on the cusp of summer vacation time, during which many buyers and sellers leave town and decrease the inventory of available homes on the market. Overall, spring is a sweet spot of transition during the year, and buyers and sellers are more motivated to complete the process when there are fewer pending obligations.
- Warmer weather. As the temperatures increase, buyers are more inclined to leave their cold winter slumber behind and take a more active role in searching for a home. Without snow weighing them down and impeded mobility from harsh winter weather, it is an easier time of year to pack up or venture to new locations in search of the right property. For sellers, they will be more inclined to fix things around the house to improve value, like painting the exterior or other touches that are difficult to address during the cooler months.
- More homes are available. During the spring months, the inventory of available homes rises because it is a popular time to buy or sell. The more homes that are available, the better chance a buyer has of finding a home that meets their needs and checks off all the items on a their wish list. If you are a seller, your home will likely get more attention than if you listed it at a different time of year, which could result in increased competition, bringing better offers.
- Tax breaks. With tax day approaching each April, buyers and sellers are eager to complete the home buying or selling process in time to apply any applicable tax breaks or deductions by the deadline. In the early spring, there may be a surge of activity to get all of the paperwork completed and enjoy the tax benefits that come with homeownership.
- Improved curb appeal. The flowers are blooming and the gardens are greener. If you are going to list your home at any time of year, why not do it when your home will likely look its best? Gone are the gray snow covered lawns, and instead they are replaced by a vibrant, healthy landscape with sunny skies that improve the look and feel of your home. It doesn’t hurt to show the best version of your property to a potential buyer, and the natural spring elements will inevitably increase its appeal.
Of course, the right time to buy or sell a home depends on your personal situation. Don’t rush into anything just because spring might be approaching. Act on your property search or sale when it makes the most sense for you. But if it does happen during the spring months, your home buying or selling journey might just be a little bit easier.