THERE ARE NO LAZY DAYS OF SUMMER IN REAL ESTATE
The lazy days of summer may be here, but the real estate industry is busier than ever. Some may believe that after the spring rush, the real estate industry takes summer vacation. That belief is certainly a falsehood! In fact, the summer months can be just as busy and lucrative for home sellers and buyers.
The National Association of Realtors® (NAR) recently announced that pending home sales in May jumped 6.1 percent when compared to April. The increase is the largest month-over-month gain since April 2010. While May is considered part of the spring selling season, the level of activity is expected to continue into the summer months. “Sales should exceed an annual pace of five million homes in some of the upcoming months behind favorable mortgage rates, more inventory and improved job creation,” said Lawrence Yun, NAR chief economist.
There are a number of benefits to selling a home in the summer. Many home sellers choose to place their home on the market in summer to take advantage of attracting homebuyers who missed out from tough competition and bidding wars during the spring selling frenzy.
Homebuyers, particularly those with families, want to be settled before the first school bell rings. Selling a home in summer still leaves ample time for families to make their move well before the start of the fall season.
Selling in summer enables many to finish their home improvement projects just in time for the first showing and of course, with plantings and trees at their peak, a home’s curb appeal is typically at its peak as well.
Selling a home in summer doesn’t have to impede on your vacation plans either. Your Coldwell Banker Residential Brokerage affiliated sales professional will work closely with you to schedule an appropriate time to introduce your property to the market and of course, schedule viewings that are convenient for you and your family.
If you want to discover what is happening in your market area in terms of pending home sales, and activity levels, look to the attached market data. Even better, contact a Coldwell Banker Residential Brokerage sales professional today to make the most out of your summer real estate goals. You may just find that right now, your local real estate market is hotter than the temperature.