Most homeowners believe that the winter is not a good time to sell. This belief is based on the fact that historically the number of buyers decreases in the winter and then increases dramatically during the spring buying market. Though this is still true, there is an interesting pattern developing over the last few months.
The number of prospective purchasers actively looking at a home (foot traffic) has remained strong going into the fall. As a matter of fact, the foot traffic far exceeds the numbers reported for the same months last year (see chart):
At the same time, the National Association of Realtors revealed that the months’ supply of housing inventory has decreased from 5.5 months to 5.3. That equates to less competition for homeowners selling today as compared to next spring when many homeowners will decide to put their home on the market.
Since buying activity is still strong, this might be a great time to put your house on the market. If you would like to learn more about the current market in your area, please give us a call.