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Selling a Northern Virginia Home? Check out our FREE Home Value Report
The spring season is in full swing, and both buyers and sellers have found these months of rebirth as the best time of year to buy or sell a home. Acting now, in the spring, has three major advantages for buyers and sellers:
1. Best Selection
Sellers know that the peak months for buyers to shop are in the spring. A lot of this is due to the weather, as buyers don't enjoy being out and about looking at houses during the winter weather. Many sellers will hold their house off the market in the winter, then pop it out with spring flowers to maximize the number of buyers seeing it. Being able to market the house to the largest number of buyers benefits sellers, and the increased selection benefits buyers.
2. Interest Rate Increase Pending
The Federal Reserve has been signaling their intention to increase interest rates for months. To date, they have held off on doing so. The consensus of opinion now is that rates will increase in the second half of the year. When rates do go up, buyers can afford less, and the overall demand at every price level declines, so sellers tend to not be able to command as good a price. Increasing interest rates hurts both home buyers and home sellers.
3. Daylight
The spring months leading up to the summer solstice are the longest days of the year. Longer daylight hours means buyers have more time to see houses after work and can shop during the week instead of having to wait for the weekend. Being able to see homes during the week enables motivated buyers to get out there, and enables sellers to get more offers sooner.
There you have it, the top three reasons why people decide to buy and sell in the spring. If you have any questions for us, or are thinking about buying or selling this spring, give us a call or send us an email. We would love to hear from you!
Sellers know that the peak months for buyers to shop are in the spring. A lot of this is due to the weather, as buyers don't enjoy being out and about looking at houses during the winter weather. Many sellers will hold their house off the market in the winter, then pop it out with spring flowers to maximize the number of buyers seeing it. Being able to market the house to the largest number of buyers benefits sellers, and the increased selection benefits buyers.
2. Interest Rate Increase Pending
The Federal Reserve has been signaling their intention to increase interest rates for months. To date, they have held off on doing so. The consensus of opinion now is that rates will increase in the second half of the year. When rates do go up, buyers can afford less, and the overall demand at every price level declines, so sellers tend to not be able to command as good a price. Increasing interest rates hurts both home buyers and home sellers.
3. Daylight
The spring months leading up to the summer solstice are the longest days of the year. Longer daylight hours means buyers have more time to see houses after work and can shop during the week instead of having to wait for the weekend. Being able to see homes during the week enables motivated buyers to get out there, and enables sellers to get more offers sooner.
There you have it, the top three reasons why people decide to buy and sell in the spring. If you have any questions for us, or are thinking about buying or selling this spring, give us a call or send us an email. We would love to hear from you!
