The ideal time for people to sell their homes may not always align with traditional spring trends, as recent market shifts suggest waiting until June could yield higher profits, according to experts' commentary on CNBC.
In 2023, homes listed in the first half of June sold for 2.3% more, amounting to an average $7,700 boost. This means home selling must be perfectly timed to maximize returns.
Why June Is The Best Time for Home Selling In Today's Real Estate Market?
The pandemic and subsequent changes in buyer behavior have reshaped the real estate landscape, with trends deviating from the typical spring selling season observed in previous years.
While spring traditionally marked the start of heightened activity in the housing market, recent years have seen a departure from this pattern due to various factors, including the impact of the COVID-19 pandemic and fluctuations in mortgage rates.
As a result, buyers and sellers alike are advised to adopt a more year-round approach to real estate, considering market dynamics beyond seasonal fluctuations.
Looking ahead, experts anticipate a potential surge in buyer demand during the summer months, driven in part by anticipated rate cuts by the Federal Reserve. However, despite the anticipated increase in supply, elevated home prices persist, reflecting continued pent-up demand in the market.
Hence, why there are now real estate rules to combat anticipated skyrocketing mortgage rates, per VCPost.
Nevertheless, for those considering entering the housing market, taking advantage of current conditions and planning for potential refinancing opportunities later may offer strategic advantages. Similar to how June is the perfect time for home selling.
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