The summer season is nearly over, which means that the temperatures are about to chill off here in Oakland County, Michigan. And whilst there’s no assure, it looks like the housing market may also cool together with it—as a minimum barely. in step with a recent article from realtor.com, many experts assume that, while the fall shopping for season may be competitive, it won’t be quite as frenzied as the spring or fall.
One indicator supporting that projection is the tempo of rate increase. consistent with the item, the country wide median home charge hit $385,000 the week finishing August 14 (the very best on document). That price represented a 8.2 percent boom year over 12 months—a particular boom in fee, however notably less than the 17.2 percentage increase from April 2020 to April 2021. stock is also beginning to increase (in step with information from the country wide affiliation of REALTORS®,1.32 million houses have been to be had for sale in July 2021—a 7.3 increase from June)—and the greater stock is to be had inside the fall, the less difficult the house search technique will be for shoppers.
So, what does this imply for you? There’s no denying that fall is shaping up to be a competitive season for real property—however with slowing fee boom and growing inventory, it may prove to be much less competitive than it’s been for quite a while.
Fall is here. Which means the “holiday season” is creeping up on us.
Which, when you’re a real estate agent, inevitably brings questions about whether it makes sense to even list a house for sale, or start looking to buy a house at this point, or…
“Should we wait ‘til Spring?”
If that’s ever crossed your mind, you’re not alone. Lots of people think that way.
The most common reasons sellers give: there are less buyers looking.
The most common reason buyers give: there aren’t as many houses for sale.
Kind of a self-fulfilling prophecy…but, also kind of a myth.
And when it comes to Fall, the main reason real estate agents give is because there are usually less houses on the market to compete with. Or, the buyers in the market are more “serious”.
My Reasons for Fall Selling
To me, the best reason for selling in the Fall (or any other time of year for that matter) is because you need to. If you don’t need to sell…wait. Not until Spring. Wait until you need to.
Wanting to sell your house isn’t a bad reason. However, selling a house is a pretty big decision, and too many homeowners put their homes on the market prematurely.
I don’t have any proof, but I have to wonder if this mindset wasn’t started by part-time real estate agents who wanted down time during the holidays to shop, bake, and go to parties.
It’s a myth I wish truly existed. Because, while there’s certainly busier times of the year, as a full-time agent, I know there’s always great houses being sold and bought. Not just during the season, but even on holidays.
(I’m lucky to enjoy just a few hours on an actual holiday without some amount of work for my clients.)
Spring is a long ways away. And there are plenty of houses to buy…and plenty of buyers to sell to between now and then.
As a professional Oakland County Michigan REALTOR®, I take pride in my knowledge of the current market conditions in all of the region’s micro-markets – and offer my clients an intimate glimpse into the neighborhoods that might become their next home or one they sell a home in.