Spring is in the air and signs of "new life" are all around. For many, it is also the perfect time to begin thinking about moving. Let us take a moment to explore the psychology behind the Spring Housing Market.
1. Ideal weather - who would have thought that weather would be a key factor in the Spring Housing Market, but it is. Buyers can enjoy longer daylight hours, milder temperatures all ideal for housing hunting.
2. Natural increase in demand - Spring provides excellent motivation for buyers to consider moving, especially those with children. Makes for an easier transition to the new school district over the summer months. Major companies transfer more employees during the spring months for just this reason.
3. Spring usually bring better market conditions - Spring favors the seller as competition amongst buyers often leads to multiple offers on a property and mortgage rates tend to be lower.
4. Buyers take advantage of "time" - Weekends now can be dedicated to attending more open houses and scheduled showings. However, there is a sense of urgency which can lead to faster sales and quicker closings.
5. Increase in the number of houses on the market - Buyer know that with the increase in housing inventory, there are more opportunities to make a "smart deal". Sellers know that with the right marketing strategy they can attract more buyers and increase their chances of selling their home quickly.
Bottom Line: Spring remains the most active time of the housing market cycle. Smart buyers and sellers alike take advantage of this time of year to practice the art of the deal.
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