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Thinking of selling your house this spring? It is common knowledge that spring is the most popular time of year to buy and sell a home. For that reason, many homeowners wait to put their homes on the market until then. The question is whether or not that is a good strategy this year.
The other listings that come out in the spring mean increased competition to any seller. Do a greater number of homes actually come to the market during the spring in comparison to the rest of the year? The National Association of Realtors (NAR) recently revealed the months during which most people listed their homes for sale in 2018. This graphic shows the results:
The second quarter of the year (represented in red) are consistently the most popular months for sellers to list their homes on the market. Last year, the number of homes available for sale in January was 1,520,000.
That number jumped to 1,870,000 by May!
What does this mean to you?
With the national job market improving and mortgage interest rates projected to rise later in the year, buyers are not waiting until the spring; they are out looking for homes right now.
Bottom Line
If you are looking to sell this year, waiting until the spring to list your home means you will have the greatest competition amongst buyers. Beat the rush and list your home today!