If you’re in the market to buy a home or sell a home right now, then you know how last year’s housing market boom has spilled into this year. Fantastic news for sellers; maybe frustrating for buyer’s.
For many years, the rule of thumb has been to wait until the flowers begin to bloom to list homes for sale. The best time to buy a house really depends on your situation and goals. Even with a competitive housing market, there are several approaches both buyers and sellers can take. Armed with solid information from the top real estate agents of Landmark Realty, you’ll be better equipped to take on your endeavor to buy a house or sell a house in these interesting times of 2021. Here’s what you need to know.
The Impact of COVID-19 on the Housing Market
In spite of the slowing economy last year, the stay-at-home orders across the nation, and, well, a crazy, scary 2020 in general, experts are expecting homes for sale and the frenzy from last year to extend into this year’s market. You may wonder what on earth has happened for home listings to be so scarce right now.
Over the past year, people certainly ended up with a considerable amount of extra time on their hands. Homeowners and new buyers alike began to explore their possibilities with more serious intent. What they wanted in a home, whether to upgrade in the same area, or relocate to a whole new region. They had more time to think about when the best time to sell a house or the best time to buy a house might be.
All that thinking turned into action. Add to that lower interest rates, which helped increase buyers’ budgets, and now we’ve landed in a seller’s market. The demand of homes for sale is currently exceeding the number of home listings on the market. In short, there are far more people looking to buy a house, than sell a house. So if you’re ready to sell your home, chances are, now is a great time to put it on the market!
When is the Best Time to Sell a Home?
Spring has historically been the best time to sell a home and that really hasn’t changed much. Tax refunds burn a hole in buyers’ pockets. The weather tends to be ideal for viewing homes. Summer break is around the corner, which makes moving much easier. During the springtime, you’ll have a better chance of getting your asking price or even more than asking price if the competition is fair.
This year’s uptick in home listings and transactions has definitely bucked the trend though. Right now, interest rates have still encouraged buyers to get off the fence and buy, but the lower rates won’t be around forever as they’ve recently begun to bounce a little higher. If you’ve been pondering selling your home, it’s worth taking the time to call the top real estate agents of Landmark Realty right away to explore your options before the market shifts. Our experts can help you make an informed decision and make your selling experience a smooth and happy one. Call either our Paris location at 731-642-0515 or Camden at 731-584-7777.
When is the Best Time to Buy a Home?
When to buy a house really depends on your focus. Springtime offers a great experience usually having the highest inventory to view. But you’ll likely be dealing with more competition because there’s a greater number of buyers to go along with it. More options; less negotiating power. Home prices are generally higher between March and May as well. It’s a juggle.
Fall and winter tend to have fewer options but offer greater flexibility with pricing and negotiations. Your best bet for maximum benefits is late summer, around August. You’ll find a decent inventory while benefiting from sellers lowering their prices to sell before fall/winter.
Of course, there are so many other factors that will go into your decision to buy a home. Your job, your kids’ schooling, finances. The experts at Landmark Realty are here to help you navigate your needs and the market to help you find the home of your dreams, no matter what the time of year.
The Best Way to Buy or Sell Your Home... Contact Your Local Real Estate Agents!
Your local real estate agents will have all the information you need regarding your local real estate market. If you’re looking to buy, they quite often know of properties that haven’t even been listed on the market yet! And if you need to sell, a top local agency will stay current on the latest trends in the markets and what’s going on in the world of financing. Don’t take on this adventure alone!
Looking to Buy or Sell a Home in Paris, TN or Camden, TN? Get in Touch with Landmark Realty!
As the top real estate agents throughout the area, we are committed to serving you. Our hope is to help you have an amazing home selling or buying experience with the intention of building relationships that last. Call today and talk with one of our helpful agents in either our Paris location at 731-642-0515 or Camden at 731-584-7777. If you’re looking to buy or sell your home in the Paris, TN or Camden, TN, and surrounding areas, then look no further than Landmark Realty!
