Spring Real Estate Market
Why do people buy/sell real estate in the spring?
The spring real estate market has been a thing for as long as I can remember. Why? Why is buying and selling real estate a spring sport? Is it just tradition? While I sometimes wonder if tradition does color this issue, the more logical reasons include weather, school schedules, and apartment leases.
Who wants to wade through snow and ice to look at houses? Wisconsin winters add an additional layer of hassle to home searches. Sellers are usually not excited about the amount of dirt and salt potential buyers drag into their homes either. And, with a deal in place, both the buyer and seller need to navigate shuffling all of their worldly goods out of the house, through the snow and slush, onto a moving truck – then the entire process in reverse at the final destination. No wonder most people prefer to wait until spring! The only tricky part in Wisconsin– finding those elusive spring days!
In our area, landlords plan to rent their properties in the spring. If the lease covers one year, the tenant is either signing on for another year or looking for a property to purchase. Finding a house or condo before the lease runs out presents a challenge in a sellers’ market. If people don’t find anything, they may end up signing another lease. Renters face a challenge to time a move for the perfect spring month. No one likes paying double—house payments that overlap with rental agreements and rent payments.
People with school-aged children house hunt in the spring, hoping to settle into a new property during the summer when the school schedule allows better opportunity and flexibility. This is especially true for families planning to relocate to a new community. Moving a household with young scholars presents enough stress. Trying to do that on a weekend while managing homework, sports practices, and band concerts could put any parent over the edge.
Other factors may also influence the spring market: fluctuating interest rates, restless feelings of wanting new spring things, better curb appeal with green grass, budding trees, and early blooms. Thinking of selling? Now’s the time with the strongest appeal. Thinking of buying? This time of year provides the strongest inventory for you to consider (along with the strongest amount of competition). Either way, I’m always happy to help!