Many people believe that selling their house during "the spring buyers market" is the best thing to do. Their reasoning is that there will be more buyers than there are during the winter months and, therefore, their house will sell quicker and for a higher
Historically,this made sense. However, today's real estate market is not following the rules of the past.
The National Association of Realtors (NAR) measures buyer "foot traffic" each month. It receives data on the number of properties shown to a prospective purchaser by a Realtor• (based on the number of lockboxes used). The data reveals the number of buyers
out actively looking for a home, not just window shopping on the internet. NAR explains:
"Foot traffic has a strong correlation with future contracts and home sales, so it can be viewed as a peek ahead at sales trend two to three months into the future."
According the the latest "foot traffic report" buyer traffic is greater now than it was during this year's spring market and there are more buyers out now than at any other time in the last five years.
The chart below shows that buyer activity over the last three months (blue bars) was greater than it was during the past spring market (green bars).
If you are waiting for next spring to list your home because you think that's when the buyers will be out in force, perhaps you should reconsider. Buyers are out right now!!!