Here are five reasons why you should wait until 2022 to sell your home.
In terms of seasonality, the closer we get to major holidays, the colder the market gets. Here are the top five reasons why sellers might be better off waiting until next year to sell:
1. The buyer pool focuses less on finding homes. This time of year, people are more focused on holiday travel and shopping than they are looking at homes.
2. It’s harder to show tenant-occupied properties. Most tenants will be setting up their homes for holiday gatherings and family visits.
3. Homes don’t show as well when it’s dark outside. It’s getting darker earlier, and homes generally show better in daylight. Most people prefer to view homes when they can actually see the neighborhood in the daytime. Generally speaking, most people in our area work until 5 p.m. or 6 p.m., so by the time they could get to a property, the sun has already set.
4. COVID is still a major concern, especially in winter. Even if you’ve been vaccinated, it still makes sense to limit your exposure as much as possible in the winter months. Transmission rates spike as more people are confined to their homes and indoor spaces. Even if you’re not affected by the virus, if you’ve been exposed, there go your holiday plans.
5. Transactions can become harder to facilitate. Lenders, attorneys, and inspectors generally have vacation time scheduled, and their rate of response tend to lag, which can be frustrating and ultimately lead to more difficulty in keeping an ideal timeline.
On the flip side, if you’re a buyer who has some flexibility with a closing timeline, the winter months are a great time to look for a home. Although you may have less inventory to choose from, you’ll have significantly less competition overall.
“Sellers: Unless you need to sell your home now, you’re better off enjoying your holidays.”
The National Association of Realtors states that the number of home sales increases significantly in the spring season. They also point out that the slowest months are November, December, January, and February. In the northeast, the sales volumes in the slower months are only a fraction of what they are in the spring and summer.
Sellers: Unless you truly need to sell your home in the next 45 days, you’re better off enjoying your holidays and putting a strategy together for early 2022. Buyers: Whether you’re just getting started or have been looking for a long time, these next six weeks may be the best time of year to find a home.
If you have any questions about today’s topic or buying or selling a home in general, don’t hesitate to give me a call or send an email. I’d love to hear from you.
