Winter is the New Spring in the Real Estate Market!
There has been a big change in the timing of the yearly real estate market boom. Up until now, the surge happened in the Spring, specifically April. But according to new research published in realtor.com, not any longer. This new report shows January and February had the most monthly views per listing!
So, if you live in a very hot real estate market – such as San Bruno, Silicon Valley, South San Francisco, Santa Clara County, etc. – why wait to list your home in the Spring when you will have far more competition from your neighbors? One of the fundamentals of marketing states that the best time to sell is when there is less of an item to sell and the greatest number of buyers. This is the state of real estate at the moment. Winter has become the new Spring in real estate, especially in California!
One senior economist at realtor.com says: “As shoppers modify their strategies for navigating a housing market that has become more competitive due to rising prices and low inventory, the search for a home is beginning earlier and earlier.”
There has been much speculation about why the shift to an earlier start, but to date, there are no definitive answers. That does not take away from the reality of this new phenomenon, however.
If you’re looking to buy and need to a fast close, give a call to Sun Pacific Mortgage at 707-523-2099. We have been known to get the job done for many of our clients in less than 3 weeks and as fast as 2 days. Don’t let this market intimidate you, we are here to make the financing process a smooth and painless one!