Homeowners should buck the conventional wisdom about selling in the spring.
Late spring and summer are usually thought of as the best times to put a home on the market because buyer demand builds steadily through spring. Sales then peak during the warmest months, when it’s easiest for families to move without uprooting their children from school. But this year, experts predict that the selling boom, which normally starts in spring, will hit at a different time than it has in the past. Sellers with flexibility should market their homes earlier in the year.
In Depth: Home-Selling Tips For 2010
According to data from Zillow.com, an online real-estate database, the volume of home sales was highest in June, July or August every year since 2000. This year, however, an $8,000 credit for those buying their first home–that expires on June 30, 2010 and requires buyers to have closed on a home by April 30, 2010–will force buyers to speed up their decisions. Historically low interest rates also suggest that sellers will face a busier market as early as February.
“This year, we’re anticipating sales will peak earlier,” says Nicole Hall, editor in chief of Lendingtree.com, an online mortgage comparison service. “The best time to get your house on the market will be February or early March, and maybe even earlier if you want to avoid competition.”
The Economy Upsets Seasonal Trends
House hunting may have traditionally sped up after March, but nothing about the last few years in real estate has been traditional. In 2008, sales failed to pick up with their usual gusto in late winter because the financial crisis cast a shadow of fear over buyers, and lending seized up.
I think the number of houses in Cool Springs to go on the market will far exceed any other area of Williamson County or Nashville.
John R. Carlisle