Temperature isn’t the only thing that falls when the seasons change. If you follow the housing market, you know that the number of active buyers and available listings also begin to fall. Meaning home sales in the winter are always a bit lower than previous seasons. It makes sense. The school year, the approaching holidays, and colder weather all have an effect on our willingness to buy or sell a home. And while this year’s market has been hotter than normal, that doesn’t mean we won’t see the same seasonal trends as we head into winter.
Home Sales Decline in Winter
According to one recent report, it may already be happening. In fact, the report shows that the number of homes for sale dropped in October across every price segment. But while that may be true, the price range you’re in will determine how many options you’ll find, if you’re house hunting this fall. For example, the number of available homes for sale under $200,000 has fallen 18.1 percent in the past year, while homes between $200,000 and $400,000 are down less than 1 percent. And as your price range rises, so do the number of listings. Year-over-year, homes between $400,000 and $600,000 are actually up, increasing 31.2 percent over the past 12 months. Similarly, homes between $600,000 and $1,000,000 rose 48.3 percent. Click on the link for more information.
Here at A1 Mortgage, we know how important it is to choose the right house for you and your companion. We have the responsibility to provide you with the best products and the highest level of customer service possible. With hundreds of loan programs available, we tailor a loan specific to your mortgage needs. So come get pre-approved and start shopping for your dream home by clicking here!