How The Time Of Year Affects The Housing Market
Updated: Dec 27, 2018
November-February: During this time of year the housing market slows down significantly compared to the summer months. Depending on the location it may even transition to a true "Buyers' Market," which means that people searching for homes are less abundant and therefore have more leverage in the negotiation process. In places like Tacoma, WA, there are less people PCS'ing to Joint-Base Lewis McChord (JBLM) so that means that there are less people looking to purchase a home. This would not be the ideal time to place your home on the market, but it would be the perfect time to buy. If you have a REALTOR like myself, then you could even have the opportunity to purchase a home while the seller pays for the buyer's closing costs!
March-April & September-October: These months are what I call the "transition months." The reason that I call them that is due to the fact that the market is beginning to pick up (March to April) or it is starting to slow down (September to October). When the market is slowing down, military bases such as JBLM begin to see less people PCS'ing, meaning that the market is beginning to transition from a sellers' market to a buyers' market.
May-August: These months are the best markets for sellers, hence the name "Sellers' Market." During a sellers' market, more people are trying to purchase homes, there are more properties on the market, and the properties that are on the market leave the market under contract typically under 14 days. This means that unless a property has not had any offers in over two weeks, it will be very difficult for a buyer to have any negotiation leverage regarding a lower price or asking the seller to cover closing costs.
If you'd like to discuss market conditions further, please contact me!
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