The Housing Market Will Spring Forward This Year!

Just like our clocks this weekend, the housing market will soon spring forward in the majority of the country. Similar to tension in a spring, the lack of inventory available for sale nationwide has been holding back the market. Many potential sellers believe that waiting until Spring is in their best interest. Traditionally, they would have been right. Buyer demand has seasonality to it. Usually, in most states, this falls off in the winter months, especially in areas of the country impacted by arctic conditions. However, in Naples Florida, we are in peak season to sell your home.

How has Seasonality impacted the market this year?

Demand for housing has remained strong regardless of location as mortgage rates have remained near historic lows. Even with an increase in rates forecasted for 2019, buyers are still able to lock in an affordable monthly payment. Buyers are increasingly jumping off the fence and into the market to secure a lower rate.

The National Association of Realtors (NAR) recently reported that in 2018 the top 10 dates sellers listed their homes all fell in April, May, or June. In Naples, the peak selling months are February, March and April.

Those who act quickly and list now, before we spring forward and before season ends, will benefit from additional exposure to buyers.