Spring is real estate’s hottest season, but before you go out and purchase the first home you see, there are a few things you should know.
There are many reasons that factor into the success of the real estate market during spring. The warm weather, summer break, or simply because of the shift in mentality as we get a new fresh season. Statistically, it’s the best time to buy a home. While there are certainly advantages to buying in the spring, there are also negatives which should go into your decision-making process.
- More Inventory. Sellers feel more motivated to put their home up for sale once the warm weather rolls around. Then, as potential sellers get wind of the bidding wars, they decide to sell their house and supply goes up.
- Pleasant Weather. Not many people are willing to go to an open house when it’s cold out. Good weather brings buyers out and they can enjoy a full day of house hunting.
- Perfect Time for Families. Moving your entire family is stressful regardless of time, but doing so after school’s out removes the worry of having to deal with school and extracurriculars, and other such things.
- More Competition. Supply may go up, but so too will buyers. Spring brings out a flood of buyers who, like the sellers, were waiting until the frost melted and until they could navigate neighborhoods unimpeded by the elements.
- Bad Decision-Making. After school gets out, a new timer begins – the new school year. As the timer approaches zero, it’s a lot easier to compromise and make a bad housing decision. The desire to purchase any house to get into a certain school district may start to ride common sense. Be like Spock: use rational logic to purchase a home.
Contact Scott Ange at RE/MAX Infinity Westlake Village, California, specializing in the Conejo Valley. My team will fulfill all your real estate needs, regardless of the season!