Mortgage News May 15, 2023
According to ATTOM’s yearly analysis of optimal days to sell a house, spanning the previous 12 years of home sales data, May, June, and April present opportunities for sellers to receive a premium of 10% or more over the market value. Notably, May holds the top 16 best days for selling a home.
Based on an analysis of more than 51 million transactions of single-family homes and condos between 2011 and 2022, the findings indicate that delaying the sale of a property until warmer weather arrives may yield higher seller premiums.
Recent data reveals that the spring and summer months are when homebuying activity is most active, presenting a prime opportunity for homeowners considering selling their properties to list them. As such, this could be an optimal time to put your home on the market.
The ATTOM study also provided an overview of the seller premiums observed during different months of the year. It could be prudent to consider waiting until the warmer seasons before buying or selling a home.Months With The Highest Seller PremiumsMay12.8%June10.7%April10.3%March9.7%July9.6%February8.7%August8.2%September8.0%January7.5%October6.8%December6.8%November6.3%
The real estate market is subject to seasonality, with certain times of the year being more conducive to buying and selling. Home sales tend to increase during the warmer months, which means that spring and summer are the most active periods for real estate transactions. This is due to various factors, such as school schedules, more favorable weather conditions for moving, and a generally positive economic outlook.
Ultimately, the decision to buy or sell a home should depend on individual circumstances and preferences. While waiting for warmer weather can lead to higher premiums for sellers, it may not always be feasible or practical for buyers. It is essential to work with a trusted real estate agent who can guide you through the process and help you make informed decisions.
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