Now is the Best Time to Relocate Before Spring Arrives!
While many homebuyers consider spring to be the ideal time for purchasing a house, that may not always be true when taking into consideration the amount of competition you’ll encounter. If you’re ready to buy now, here’s why it makes sense to get ahead of the game before everyone else jumps in during Spring.
When the weather warms, a wave of buyers sweep into the market!
Year after year, the housing market follows a similar pattern of seasonal trends in activity. Generally, winter is a slower time while spring sees an influx of house hunters getting started with their search – and this year looks to be no different!
Presently, customer demand is on the decrease due to a combination of customary seasonal trends and last year’s rise in mortgage rates. However, since November, these prices have begun to drop once again – attracting more prospective buyers back into the market. Therefore, if you’re ready and able to purchase now is an ideal moment before greater numbers of purchasers start appearing!
Affordability is beginning to improve, but demand is still low — for now. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), shares:
“. . . expect sales to pick up again soon since mortgage rates have markedly declined after peaking late last year.”
Act now if you’re prepared to purchase a home and gain an advantage over the competition before more buyers enter the market. Don’t wait too long or miss out on this incredible opportunity!
Today’s Sellers Are Eager
This winter, sellers are more inclined to compromise because of the decrease in demand from buyers. This is your opportunity to acquire a home on terms favorable to you! Negotiations have been especially lenient in this market due to the shortage of buyers.
According to a recent article from Forbes:
“. . . sellers gave concessions to buyers in 41.9% of home sales in the fourth quarter of last year.”
However, do not forget that these benefits for buyers won’t last forever. If you wait until the spring to buy a home, there will be more competition and sellers may have less motivation to negotiate with potential buyers. Therefore, it is essential to work with an experienced real estate professional who can help guide you through your local market’s current conditions.